Here we go

Three months and two weeks ago the finance minister resigned.

“Since I expect that we will have a long and challenging recovery, I think it’s important that the prime minister has by his side a finance minister who has that longer term vision,” Bill Morneau said, politely. “That’s what led me to conclude during this time period that it’s appropriate for me to step down.”

It was a shock. In the midst of scandal. And it occurred after Morneau had a blow-out with Justin Trudeau. One man wanted prudence. The other, glory.

As we know, both were tainted by the WE debacle, now blurred by the ongoing Covid crisis and its  troublesome second wave. Trudeau allowed his family members (including his mom) to become paid shills for a dodgy charity with a penchant for buying commercial real estate in the name of its founders. Morneau carelessly accepted gifts and travel. It was an embarrassment he won’t live down.

But that’s wallpaper. The real story here is the course of the nation which today again lurches left. Morneau in July was devastated to announce Canada would have the worst deficit on record, $342 billion, as a result of T2’s virus spending and the CERB tsunami. He then argued for restraint, telling the prime minister of the need for a long-term strategy to restore fiscal health. Trudeau rebuffed him. This crisis, he argued, was an opportunity to remake society, expand the role of government, promoting social and climate justice. The spending would continue.

Bill quit. Chrystia Freeland was instantly thrust into his chair.

So let’s consider this a moment.

Bill Morneau is Old Money. If you’ve ever spent much time around OM people you know they live by a code. No wonder. The system’s been good to these folks. Capitalism works. Things are as they are for a reason. Change should be incremental. Reputation matters.

Before losing his mind and running for Parliament, Morneau headed a billion-dollar executive benefits company and earned over a million annually. He lives on a two-acre estate in the middle of Toronto and married one of the wealthiest women in Canada. Nancy McCain is an heir to the food empire of the same name. Her brother is chairman of McCain Foods. Her cousin runs Maple Leaf Foods. Her sister lives in a little castle across the street. There are two family yachts, large enough to cruise to the Galapagos, normally anchored off the family’s summer compound in New Brunswick or its holdings in Florida. There is also a chateau in Provence, in the south of France

In short, there’s nothing to prove. Being in public office is not about personal gain, advancement or brand-building. It’s service. It finished badly. But it also ended on principle.

Chrystia ain’t OM.

Both parents were lawyers with her mother running as a federal NDP candidate in native Alberta. Her BA is in Russian lit and history. Her MA is in Slavonic studies. She worked as a journalist stringer in Ukraine, and afterwards in London and Moscow. Then to the Globe and Mail and Reuters. Her major publication was a book called “Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else”, a 2013 bestseller. Then she ran for Parliament. She’s married to Graham Bowley, a former NY Times reporter. Three kids. Normal house.

An accomplished, ambitious woman. Now the second most powerful person in Ottawa. In interviews over the past few days she’s indicated a willingness to ‘spend whatever it takes’ for the Trudeau agenda of worker support and economic rebuilding to occur.

Privilege, business success, family, wealth and marriage made Bill Morneau. Justin Trudeau made Chrystia Freeland. She may well be more in sync with a nation where Millennials outnumber Boomers and social justice/climate issues trump balanced budgets. He may be the dinosaur, the last hulking carcass of fiscal restraint standing at the vault door.

   But we are now the spendiest country in the industrialized world. In a single year our deficit, as a share of the economy, has grown by a factor of 18. “No major economy,” says Scotiabank, “will show a bigger fiscal swing in 2020, according to estimates from the International Monetary Fund.”

And it’s only started, apparently.

$     $     $

Well, here it is. The shiny new (so far) Chrystia deficit number: $381.6 billion (by March). And this does not include another $100 billion in stimulus spending coming after the second wave…

Now, let’s see who in the steerage section came closest with their estimate, and will be our Guest Blogger! May God help the winner.

257 comments ↓

#1 Kanuckistan is Born on 11.30.20 at 2:21 pm

Good lord that was depressing…………….so the two folks most in charge of the budget have zero financial, business, economic experience…………

#2 willworkforpickles on 11.30.20 at 2:27 pm

From Kait Bolongaro Financial News – 6 days ago.
The deficit in July 2020…. $343 billion.
Government has since announced an additional $40 billion in spending.
Will the deficit come in at $383 billion today?
Pigs can fly too.

#3 Inequity on 11.30.20 at 2:34 pm

Welcome to Canada…. I know, it looks kinda like an out of control tire fire.

#4 Steven Rowlandson on 11.30.20 at 2:35 pm

Government isn’t the only group with a debt and deficit problem.

https://www.bnnbloomberg.ca/canadian-consumer-debt-tops-2-trillion-equifax-canada-1.1529506

#5 BlogDog123 on 11.30.20 at 2:36 pm

A PM who is more concerned with “appearances” and brushing scandals under the rug. Buying liberal votes at all costs. Dressing up in costumes is more exciting than balancing the books.

A finance minister who has no finance experience. Eager to please her faux-feminist boss.

Overspending and Debt Control is a “concept” for someone else to solve later…

#6 Property Accountant on 11.30.20 at 2:36 pm

Good Lord,

Only in this country, person with ZERO experience in finance may run Department of Financial Printing Press of Canada. God help us all.

I for long believed that a wealthy person holding government position is a good choice, since he / she has enough money NOT TO STEAL from the government and enough business acumen to make right decisions.

That got skewed a bit with Trump, but I still hold on to that conviction in general.

#7 FuddleDuddle on 11.30.20 at 2:42 pm

Mark my words….Universal Basic Income (UBI) is coming to Canada.

If you saved and lived within your means, and perhaps have a decent nest egg supporting your retirement, you are SCREWED.

You will be paying for the UBI with your hard earned retirement funds.

You will be paying for all the irresponsible people who are debt up to their arm pits, via the UBI, mortgage relief and more.

The great reset will be the penalty you will pay for working, saving, and living within your means.

Buckle up. It ain’t gonna be pretty.

#8 Papabear on 11.30.20 at 2:42 pm

Legit question (to save Garth an email) – Is it prudent to limit our investment exposure to Canada then? I know the idea is to not be too invested in Maple anyway, but it almost sounds like a good time to review. How much is too much?

#9 Decent Majority on 11.30.20 at 2:42 pm

Canada, the New Gulag Archipelago.

#10 Prince Polo on 11.30.20 at 2:43 pm

Somebody on this blog mentioned drunk sailors can only spend to their credit card limit. Unfortunately, JT and Chrystia have the platinum card that appears “limitless”! Are we still going for 25% USD-denominated assets or is it a good idea to ratchet up to 40-50%?

#11 Duffy on 11.30.20 at 2:43 pm

My brain is wired for capitalism so I can’t comment on this without being biased.
I will say this though, what I see in Ottawa right now reminds me a blind man walking down a street that has no manhole covers.

#12 the Jaguar on 11.30.20 at 2:50 pm

It’s true she’s smarter than her boss, in a one legged ass kicking kind of way.

I’ll just come out and say it. I can’t stand her. The munchkin voice, the big caboose, and especially the hand gestures. Pray don’t show me the palms of your hands again, Ms. Freeland. Devoid of any true fashion sense as well. I still have nightmares over that dull black dress she wore over and over again during the trade talks. Talk about a bad case of ‘short woman syndrome’. Have you ever known one that wasn’t inordinately pushy?

Is she still banned from Russia? She got her knickers in a twist because the Russians made allegations that her long-dead, Ukrainian-born grandfather was a Nazi collaborator in occupied Poland. She puts those ‘Ukrainian roots’ on like some kind of costume.

Thank you all you Liberal voters for this deep hole we’ll never be able to climb out of in this lifetime.
I’m not taking any of that back, either.

#13 LP on 11.30.20 at 2:57 pm

She worked as a journalist stringer in the Ukraine, and afterwards in London and Moscow. Then to the Globe and Mail and Reuters. Her major publication was a book called “Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else”, a 2013 bestseller. Then she ran for Parliament. She’s married to Graham Bowley, a former NY Times reporter. Three kids. Normal house.

An accomplished, ambitious woman

No one “made” her; she made herself. But he and his policies may well destroy her.

#14 BlogDog123 on 11.30.20 at 3:02 pm

Why UBI won’t work:

1. Human nature: {example lazy person}: give me money, I’m feeling lazy, don’t worry I’m in no rush to help McDonald’s and Amazon find lower paid workers like I used to be.

2. UBI will be sold to the electorate with assumption that ‘don’t worry, we’ll save so much money on social workers not needed to assess eligibility for Ontario Works, poverty management, etc…’

3. Social workers and bureaucrats won’t just get up and leave their jobs to save the government money to pay for all the UBI. They’ll say they are needed to manage all the UBI recipients eg. drug addicts who give their UBI cheques directly to their drug dealers and others opportunists who are willing to accept their UBI money used to fund their poor choices…

UBI: A disaster!

How about government policies focusing on increasing worker productivity and usefulness to employers? Increasing motivations to work and do a good job? Policies that steer people to make proper life choices?

#15 LP on 11.30.20 at 3:04 pm

#12 the Jaguar on 11.30.20 at 2:50 pm

Oh do tell how the shape of her body and the dresses she wears have anything to do with how she performs or doesn’t perform her job.

I used to think you had some intelligent things to add here; may have to rethink that.

#16 MM on 11.30.20 at 3:04 pm

I didn’t know this about KF and my God it’s depressing AF! There is no where to go other than to leave the country, which you just can’t do at a drop of a hat.

*sigh* just like the US, we will get the Gov’t we deserve!

#17 Bp on 11.30.20 at 3:08 pm

Is this essentially the start of left of left compared to our lovely NDP!

#18 Calgary Geezer on 11.30.20 at 3:13 pm

#12 Jaguar, get out of my head…you read my mind!

#19 WTF on 11.30.20 at 3:23 pm

Sad State of affairs which will only worsen unless public awareness changes dramatically.

-Libs, left of the NDP
-NDP, completely irrelevant except for when they can extort from the Libs
-Cons, now traditional Liberals
-Bloc, same as it ever was
-Greens, nobody cares apparently

We are sooo screwed……………… for generations

#20 Thomas on 11.30.20 at 3:24 pm

The Old Money people have had enough time to correct the system they control in order to provide more equity between the efforts made by the working people and the 0.01% Pitch forks are coming!

#21 Alberta Ed on 11.30.20 at 3:27 pm

The most important quality in a leader is integrity. Once that has been sacrificed, it can never be regained.

#22 crowdedelevatorfartz on 11.30.20 at 3:32 pm

One wonders if the Millennial mobs will feel so smug when they cant vacation anywhere because the Canuck buck is worth nothing……
Perhaps then “Economics101” will finally sink in.
The sad reality?
Torches and pitchforks will be far too late for this multi decade “fiscal party”

#23 ElGatoNerodeYVR on 11.30.20 at 3:33 pm

A bit of a different perspective that those let’s call it well off seem to miss. 40% of the recorded Canadians of working age do not pay net tax and like 50% were one year ago 200$ from insolvent http://gourl.gr/cu5w
So basically half of the population is in deep financial troubles and could care less about high level goals such as national debt.
A sobering number that the Conservative alternative has not truly addressed with a centrist platform hence we see this drifting to the left.
It will not change unless pragmatism is somehow found and people like us who have done better financially are prepared to push for less globalism,national interest industries (medical, industrial R&D,agriculture) and true financial education starting in high school and continuing through college; I would even go as far as to suggest a financial literacy test administered by a local college for a nominal fee and if you fail then you must take a continuing education type course with the basics (cash flow budgeting, basic investing, retirement savings) . While at it we should really just use ” Financial Independence ” instead of retirement- Words are powerful.

#24 Faron on 11.30.20 at 3:35 pm

Garth:

In short, there’s nothing to prove. Being in public office is not about personal gain, advancement or brand-building. It’s service. It finished badly. But it also ended on principle.

With all due respect, that’s… a quaint statement. I somehow don’t trust that someone with deep family connections to Canadian mega industries (one of them being pork if you het my drift) operated independently of mega corp interests and had the avg citizen in mind.

And yeah, he was dedicated to a “code” that works well for billionaires at the expense of crap wages for average schlubs and divvies for the mere 10%-ers. I’ll take a very well informed outsider living relatively modestly (i.e. a better sense of average candianness) any day of the week.

But, I don’t know the man and you probably do, Garth. If I have any free time, it will be fun to look up any union busting or wage trimming or corp tax trimming he and his family and relations have been a part of.

#25 KNOW IT ALL on 11.30.20 at 3:36 pm

THAT’S WHY Bitcoin is on the move.

#26 the Jaguar on 11.30.20 at 3:37 pm

@#13 LP on 11.30.20 at 2:57 pm
‘ But he and his policies may well destroy her.’

Now she’s a victim? I think not. And a caboose is a caboose. Some like big cabooses. Don’t be so judgemental. Or maybe you have a complex about your own caboose. Go ahead and rethink till the cows come home, by the way….

#27 Unhinged Trader on 11.30.20 at 3:37 pm

Should we be alarmed when they start printing Canadian dollars to make coupon payments on all the new debt?

What happens after that?

#28 Amok on 11.30.20 at 3:38 pm

Pretty disappointing theme today.

Trudeau made Freeland?

#29 GRG on 11.30.20 at 3:40 pm

Seems quite unnatural that the Loonie would be doing so well against the world reserve currency given the T2 spending, and the exit trumpets for Trump.

#30 SunShowers on 11.30.20 at 3:41 pm

“Capitalism works*”

*Conditions and restrictions apply. Offer not valid in the developing world** . The definition of “works” as described in this offer is subjective in nature, and no guarantees are made or implied with regards to objective and quantifiable outcomes, which may range from nonexistent, to imperceptible, to enormous.

Do not take capitalism if you are currently taking wage labor. If you take capitalism and a minimum wage, call your local welfare office immediately, as a dangerous drop in your standard of living may result.

Talk to your labor union to ask if capitalism is right for you.

Capitalism: It works. (Statement paid for by capitalists)

**Before replying or posting a source that cites the bogus $1.90 per day figure from the World Bank, this is a fair warning to do some research as to WHY that figure is bogus. If you insist on posting it anyway, I will thoroughly humiliate you.

#31 Bezengy on 11.30.20 at 3:46 pm

Bill Moreau may have left on principle, but he left as a coward without a truthful explanation of what actually happened. He’s the worst finance minister in Canadian history. His hood is a mess too, actually a complete disaster. Shameful.

#32 binky barnes on 11.30.20 at 3:49 pm

Erin O’Toole is a fine man. I am hopeful that Canadians give him a chance.

BB

#33 Yukon Elvis on 11.30.20 at 3:51 pm

#1 Kanuckistan is Born on 11.30.20 at 2:21 pm
Good lord that was depressing…………….so the two folks most in charge of the budget have zero financial, business, economic experience…………
……………………………..

WE elected them. Twice. Who’s the dummy?

#34 The Woosh on 11.30.20 at 3:51 pm

What a bigoted post today. She can’t manage the finance department because she doesn’t have the background for the role. As though there are no career civil servants to implement the vision she comes up with. Garth…I truly thought you were better than this. Shame!

No comment was made on her competency for the post. Shame on you for thinking her inadequate. – Garth

#35 Jay on 11.30.20 at 3:55 pm

Christina seems to know her way around eastern Europe. Who looks at the history of politics there and thinks “this is a good system we need to emulate, especially the socialist parts. They had it figured out!”

It boggles my mind that a minority elected party who didn’t even get the popular vote can change the country this much without a mandate. They did not run on this level of debt, this amount of fundamental change.

Canadians have always voted for a politically center government and we want a reasonable, responsible, ethical center government back! At least let us vote on it!

#36 wallflower on 11.30.20 at 4:04 pm

I will say it again.
Canada #1 place to live in the world, on many lists.
Welcome, immigrants.
Please, take our debt. Work it!
400,000 every year til there are more immigrants who had zero receipt of COVID CASH than local yokels – they shall inherit!

#37 yvr_lurker on 11.30.20 at 4:07 pm

You forgot to mention she was a Rhodes Scholar at Oxford. I am a little concerned that she does not have the background as an influential economist/public policy czar in the mould of Robert Reich from Berkeley, whose policies I generally agree with

https://robertreich.org/

I read Reich’s recent book “THE SYSTEM: Who Rigged It, How To Fix It,” this past summer, and resonated with much of it.

However, it is clear that Freeland is smart, and tenacious, and self-made. Unlike Morneau and Trudea who inherited their positions through either family wealth/corporations or the family legacy, Freeland was not born into this privilige and had to earn her stripes (with of course the good fortune for her being connected with T2). She may have risen beyond her level of expertise, but I am willing to give her a chance.

For those who have no clue or experience regarding how challenging it is to rise to a position of any prominence starting from some backwater (as opposed to inheriting it like Morneau), just download and watch the latest Ron Howard movie, “A Hillbilly Ellegy”. It is a topic that is largely lost in this day where class issues are dominated by the more topical gender/racial issues.

#38 MF on 11.30.20 at 4:08 pm

I have my opinions about the situation, sure, but I have some opionions about tonight’s post too.

Old money is “principled”?

Every. Single. Millennial is a rabid spend thrift hard lefty?

Really?

MF

#39 Phylis on 11.30.20 at 4:10 pm

So, what’s the magic number? It seems to be provided as a range.

#40 The Woosh on 11.30.20 at 4:12 pm

#33 The Woosh on 11.30.20 at 3:51 pm
What a bigoted post today. She can’t manage the finance department because she doesn’t have the background for the role. As though there are no career civil servants to implement the vision she comes up with. Garth…I truly thought you were better than this. Shame!

No comment was made on her competency for the post. Shame on you for thinking her inadequate. – Garth

—————————————

You implied she was inadequate for the role in your post. “Justin made her”. She made herself and I believe she’ll do an excellent job.

Of course he made her. It’s what prime ministers do for people you never heard of before. – Garth

#41 Graeme on 11.30.20 at 4:16 pm

“Capitalism has failed” – I agree with this.

It was usurped and replaced decades ago. Not at all like how progressives interpret this same message; it in the sense of “just look where capitalism has landed us today”. How is it capitalism when government picks winners and losers like this, sets interest rates etc. etc.? It’s not and hasn’t been for some time now. CF is just here to finish the job.

#42 mark on 11.30.20 at 4:19 pm

Seems to me let it shine………………..with all the spending and money printing, more money printing, or a glut of any thing means lower value, that includes cash becoming more and more worthless(including bonds), sounds like something else will shine in the future…………gold.

#43 The real Kip (Ret) on 11.30.20 at 4:21 pm

I was close but not over. I said $369-billion.

#44 YVR bear on 11.30.20 at 4:22 pm

I won? I said 380 billion I think.

#45 fancy_pants on 11.30.20 at 4:25 pm

Been saying it for years, hard work and saving is for losers. Give it another decade and personal property will be a historical concept. Socialism will reign and everything will belong to the state. Trump was our last defense against globalism. See you at the bottom of the barrel. Everyone loses.

#46 El presidente on 11.30.20 at 4:25 pm

RIGGED STEERAGE…. I WON BY A LOT.

#47 Captain Uppa on 11.30.20 at 4:26 pm

#41 Captain Uppa on 11.30.20 at 4:22 pm
OMG OMG OMG OMG!

I think I guessed 380B for the deficit! Garth, get ready to soar uppa, Uppa, UPPA!!!!

——————————————

Dammit, I said $354B.

… downa, Downa, DOWNA.

#48 Paul on 11.30.20 at 4:29 pm

Chrystia Freeland, please quit waving that mop around and get a hair cut.

#49 WhereToNow on 11.30.20 at 4:29 pm

Ouch ……… !! getting a headache watching that crappy fiscal update. We are pooched for quite a while I would say.

#50 Jake Halston on 11.30.20 at 4:30 pm

Garth, my opinion and knowing Liberals, past experience, she is not telling the truth, Trudeau, Freeland are not giving full disclosure. The Canadian Federal Deficit is at least $525 billion by year end, December-31-2020 and by March-2021 $625 billion. I would not be surprised by a $1 trillion deficits total, debt added by end 2022, first quarter 2023.

You will see, you can refer to this post by then, Garth.

#51 Biff on 11.30.20 at 4:32 pm

An excellent informative post Garth. Thanks so much for the summary. I knew nothing about his or her backgrounds. Fascinating read.

#52 Ancient and Venerable Ron on 11.30.20 at 4:32 pm

“Its a Trap”—–Admiral Ackbar

The Conservatives will win a minority government in October of 2021. Trudeau will be thrown out, not for his fiscal irresponsibility, but rather because Aunt Milley did not receive her vax in a timely manner resulting in her demise.

Mr Oh Tool at the bequest of his right wing caucus must now repay the massive debt. Here is the trap part:

Spending is fun, paying for it is not fun.

Conservatives are branded a bunch of tight fisted Grinches by the people, and they are sent packing to somewhere west of Kenora where they circle the wagons and ponder Western Separation.

#53 IHCTD9 on 11.30.20 at 4:35 pm

#28 GRG on 11.30.20 at 3:40 pm
Seems quite unnatural that the Loonie would be doing so well against the world reserve currency given the T2 spending, and the exit trumpets for Trump.
—- – –

I look up USD/CAD more than logging into my chequing account these days. So far nothing out of the ordinary, and no inflation either.

Still, I feel like we’re in Vegas, and Trudeau is placing all our futures on red and is getting ready to spin the wheel.

#54 Guelph Guru on 11.30.20 at 4:39 pm

Borrowing from the future is a deal with the devil. As long as the devil does not come asking for his payment you can enjoy.
So far the devil seems to be dormant. Mr. T would probably be gone by the time the devil starts stirring. It’s not his problem. He does not have to worry. But every honest Canadian should worry.

#55 Stone on 11.30.20 at 4:39 pm

Bill Morneau is Old Money. If you’ve ever spent much time around OM people you know they live by a code.

Justin Trudeau made Chrystia Freeland.

———

On the OM part, you might be right but you might also be very wrong. It’s very possible Morneau went into politics for shits and giggles. Trump is OM as well. I know he lives by a code but it’s one only psychopaths understand. He ain’t the only OM living by that code either. I wouldn’t be painting the OM as holier than thou.

As for Freeland, I was well aware of her decades ago. She is self made. Trudeau has nothing to do with what she is. He’s just using her for his own benefit and probably vice versa. She’s her own person although unlike years ago, she’s become somewhat condescending (at least with the media) which could eventually be her undoing.

#56 Barb on 11.30.20 at 4:40 pm

“expand the role of government…”
Raise your hand if that’s what you want.

Now that she’s at the helm, she should reread her book.
The fall of everyone else…
Indeed.

#57 Joseph R. on 11.30.20 at 4:41 pm

“Her BA is in Russian lit and history. Her MA is in Slavonic studies. She worked as a journalist stringer in the Ukraine, and afterwards in London and Moscow. Then to the Globe and Mail and Reuters. Her major publication was a book called “Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else”, a 2013 bestseller.”

——————————————————–

I can see why Vlad is afraid of her.

#58 crowdedelevatorfartz on 11.30.20 at 4:43 pm

407 billion?
Couldnt really tell since the nunbers seemed to waver back and forth.

#59 willworkforpickles on 11.30.20 at 4:44 pm

The deficit range was posted between $381.6 Billion and $398.7 Billion.
It’s only fair to go with the first number posted in this range.
If that be the case…then congratulations to this poster who nailed it dead on the money.
#246 TANSTAAFL on 11.23.20 at 11:15 pm called it at
$381.6 Billion.

#60 Dolce Vita on 11.30.20 at 4:44 pm

So far, I think all the Commenters should just have just used this moniker:

Debbie Downer.

As much as I like to bash Canada for its late to the table COVID-19 performance and Trudeau being a ditz at times, par extraordinaire, do not forget this about where you live:

1. A land with the most highly educated populace on PLANET EARTH.

2. Boundless and near inexhaustible resources.

3. A PLURALISTIC society the envy of many in the World. Basically, a nation of immigrants and UNLIKE the United Nations…it actually works.

4. A country that has a big heart for its disadvantaged and National Health Care that will not bankrupt you in the time of health emergency.

5. A bilingual country that has come together in the 20 years to be proud of itself, show cased itself to the World in events such as the Olympics and its put its best foot forward, envied and complimented by the World.

6. One of the highest per capita earnings in the entire World.

7. A “Bel Paese” spanning a continent and 3 oceans few can hold a candle to in its expanse and natural unfettered beauty.

.
.
.

I could go on…

————————-

Have FAITH in yourself Canada. You will get thru this as a FAVORITE SON wrote many times here and not that long ago, and you will.

You’ve done it before and you WILL DO IT AGAIN. The deficit will be reigned in and after the vaccines and herd immunity I predict Canada will come out like gangbusters.

CHIN UP, you have much to be grateful for, never forget that.

————

Con Amore Canada,

Ciao d’Italia

[from it’s most liveable city – ya I know get over it…took a walk today to see if it was true, it is…mask and all]

#61 Steerage stunner ! on 11.30.20 at 4:48 pm

#246 TANSTAAFL on 11.23.20 at 11:15 pm
$381.6 Billion

#62 Penny Henny on 11.30.20 at 4:49 pm

I had 373.3 B.
I want a recount!

#63 Tony Trevetti on 11.30.20 at 4:49 pm

Thomas, the pitch forks will be coming but starvation and Cuba like socialism eating rats, drinking and cooking with sewage water like Venezuela socialism is coming too.

This is what happens when you have people that know nothing about the real world and economics like Trudeau, Freeland are put in charge. Pretty soon Canadian dollars will be used for rubber bands.

#64 blogshark on 11.30.20 at 4:49 pm

Trudeau will run on the budget and score the largest parliamentary majority in Canadian history, book it.

#65 S.Bby on 11.30.20 at 4:51 pm

Increased GST: coming
UBI: coming
Decreased cap gains exemption: coming
Increased income taxes: coming
Inheritance tax: possibly
Wealth tax: possibly
Cap gains tax on housing: possibly
My retirement and pension: coming

#66 Tron Light on 11.30.20 at 4:51 pm

In a true democracy, there would be a referendum on any major decisions like a budget. Unfortunately we don’t live in a true democracy.

#67 Moose on 11.30.20 at 4:51 pm

Old Money won’t fix this problem. They want the status quo. At some point, the pitch forks will come! As George Carlin said….The table is tilted. The game is rigged.

Why should the taxpayers have to pay for UBI when large public corporations get off the hook again? Their only interest is in putting up better numbers every 3 months. If thei workers live below the poverty line, so be it.

#68 Drinking on 11.30.20 at 4:52 pm

Well, I lost the contest and we lost as a whole regarding this latest Freeland update. Yet their government approval ratings in the East (mostly Southern Ontario) just does not budge; we are in for a world of hurt. Run, young educated one’s, run!!!!

#69 Dolce Vita on 11.30.20 at 4:53 pm

OK, so the number is in BUT OH NO does he tell us who the winner is?

For the Love of God and all things good about Creation let us know.

I want to know whom I will be sharpening by teeth for in a quid pro quo to my past exigences on the Blog.

I mean I’m all for playing hard to get My Liege BUT

Out with it!

Who is the victi… winner?

[I was just a few Mill out at $1 Quadrillion…as they say, close only counts in horseshoes and hand grenades]

#70 crowdedelevatorfartz on 11.30.20 at 4:53 pm

Chrystia’s final comment before the question period.

“We have sown the seeds for a new Spring….”

Reminded me of Peter Sellers as the simpleton Chauncy Gardner in “Being There”

#71 MF on 11.30.20 at 4:53 pm

2 crowdedelevatorfartz on 11.30.20 at 3:32 pm

Lame. Give it a rest already.

I don’t see one millennial finance minister or central banker around, nor did I see any involved in the joke that was 2008 when the big bad government had to save everyone…including you.

I’ll say it again. Economics has zero predictive ability and is not a science in any way, shape, or form. It only does a good job looking backwards. The most impactful economic events are always the ones no one sees coming and no one can prepare for. The opposite of what everyone predicts is usually what ends up happening.

For someone who has been on this earth longer than younger generations you should know this. You should also know that your prediction about the dollar is just as worthless as everyone else’s.

Grow up.

MF

#72 Kevin BC on 11.30.20 at 4:54 pm

Winner winner chicken dinner! Looks like you got 1 reader working for the department, Garth! Congrats to TANSTAAFL for being an insider.

https://www.greaterfool.ca/2020/11/23/lighten-up/#comments

#246 TANSTAAFL on 11.23.20 at 11:15 pm
$381.6 Billion

#337 Mark B on 11.24.20 at 1:54 pm
$381B

#250 YVR bear on 11.23.20 at 11:23 pm
I’ll bet on a deficit of 380 billions.

#35 T-Rev on 11.23.20 at 4:16 pm
$383.9B

#135 Kevin on 11.23.20 at 6:24 pm
I’ll take $384 billion, Garth.

#73 Looney Baloney on 11.30.20 at 4:56 pm

Are these numbers grounded in reality in any way? Or is this just Christia’s “best guess”? Should we look at the lower or upper bound (400B)? Are we adding the 100B to the 381B? Should we add an additional 100B buffer for WE charity and other pet projects that come up? I think that should bring us pretty close to my 666 prediction. How is our dollar still at 77c to the mighty USD?

#74 Diversified in Oakville (Now Mississauga) on 11.30.20 at 4:58 pm

#12 the Jaguar

What an idiotic post, and one that I am somewhat surprised was not deleted as it was a direct attack on Chrystia’s personal appearance, and not her ability. What would this Jaguar fool have commented about if Rick Hansen was Finance Minister?

I don’t care for her being the Finance Minister either, but I base my judgement on her skill set or lack thereof for the position.

#75 Joseph R. on 11.30.20 at 5:01 pm

You implied she was inadequate for the role in your post. “Justin made her”. She made herself and I believe she’ll do an excellent job.

Of course he made her. It’s what prime ministers do for people you never heard of before. – Garth

—————————————————————

She became a household name due to Trump Administration’s attack on Canada. She held her own against Trump sycophant’s attack on both Canada and free trade in general.

She even became liked on this comment section, even some posters hoping she would replace Trudeau as PM.

That said, I think her appointment as finance minister by Trudeau was pretty risky. With the current situation the world is in with the pandemic, how can anyone claims they would have acted differently?

#76 Dolce Vita on 11.30.20 at 5:01 pm

#43 Captain Uppa on 11.30.20 at 4:22 pm
OMG OMG OMG OMG!

I think I guessed 380B

and

#44 YVR bear on 11.30.20 at 4:22 pm
I won? I said 380 billion I think.

[BOTH as self-assured as ever can be and not realizing there are links on the top right on this page for the sweepstakes Blog and this thing in Chrome called CTRL-F]

——————

Tie breaker or a 2 fer Blog post…twice as much fun for me.

#77 Doug t on 11.30.20 at 5:02 pm

#39 whoosh

Excellent Job? How is that possible? This woman “Free”land is going to break this countries back financially – does that constitute an “excellent job” ?

#78 Linda on 11.30.20 at 5:03 pm

Well, what a relief! ‘Only’ $381 billion. I’d estimated $500, so a) am not the winner of the blog contest & b) was a much lower overdraft than I anticipated. Nice to be wrong! Of course, we may yet see our deficit reach the $500 billion I & others guessed before this dog & pony show is over.

As for our current finance minister, she may not be OM but for sure isn’t presenting any facade of fiscal prudence that someone who didn’t grow up rich would be expected to have. Heaven help us, she apparently has NM (new money) tendencies, with what appears to be a desire to impress with spendthrift ways. That isn’t ‘social justice’, that is the kid with the new credit card having a blast. With the taxpayer ‘parents’ paying the bill when it comes due…..

#79 Penny Henny on 11.30.20 at 5:06 pm

I was hoping Noname would win. It would be fun trying to decipher his post.

#80 Dolce Vita on 11.30.20 at 5:07 pm

#62 Penny Henny

…recount*

—————-

*Horseshoes. Hand grenades.

US Circuit Courts & US Supreme Court (sorry, no can do),

#81 Doug t on 11.30.20 at 5:08 pm

#45 fancy pants

Yup bingo – pray the alien mother ship arrives soon and saves us

#82 dr talc on 11.30.20 at 5:08 pm

Google is yet to scrub:

‘chrystia freeland’s family record’

#83 You know val on 11.30.20 at 5:09 pm

BIS RULES, PASS THE POPCORN.

#84 cramar on 11.30.20 at 5:13 pm

I still respect Chrystia for her trade negotiation skills against the bullies from Washington. However, is Chrystia going to be a resounding example for “The Peter Principle”? Has she been promoted to her level of incompetence—or at least beyond her abilities? Will she, and has she, compromised good character? So far it doesn’t look too good. So I will be watching.

P.S. Hey Garth, I thought you were banning ad hominem attacks? #12 fits that! Not even a warning.

#85 Bob in Hamilton on 11.30.20 at 5:14 pm

$381.6 billion + 100 billion = $481.6 billion deficit, if I read the blog correctly.

Previously, I called for a $475 Billion deficit.

So, when do I get my guest column?

#86 Dolce Vita on 11.30.20 at 5:14 pm

#72 Kevin BC

Unwitting accomplice to Garth’s EVIL plot of not having to lift a finger knowing full well someone with a BRAIN and wherewithal will come along and let the rest of us lazy slugs know who actually will be our next guest contestant on the turkey chopping block [a.k.a., Guest Blog Author or more simply raw red meat for My Liege’s “adoring” masses].

Thank you Kevin.

#87 I'll be under my bed till Trudeau,Trump & Covid are gone on 11.30.20 at 5:16 pm

It’s what Trudeau has done over and over. Last first by the post election, wait what I won’t win if we do that okay never mind. A big study that said, just as the majority of cops do, that banning assault style rifles (whatever the hell that is, no one knows but Trudeau and accomplices think they are the ones that look scary to them) won’t do anything about the issues with gun crime, he ignored that because it wasn’t the answer he wanted. Same with Bill, wasn’t what Justin wanted to hear.
I tried to watch there little announcement by it just looks like question period to me and I’ve heard them all repeat the talking points before. I’ll wait for the news reports later.
By the way I’m worried about Jagmeet, every time I see him do one of those press things he incessantly drinks water. I don’t think he’s allowed to have water at home because of the way he guzzles it at those press things.

#88 Flop... on 11.30.20 at 5:17 pm

#37 MF on 11.30.20 at 4:08 pm
I have my opinions about the situation, sure, but I have some opionions about tonight’s post too.

///////////////////

No wonder the world is a mess.

Look what happens when onions are allowed to have an opinion…

M46BC

#89 mark on 11.30.20 at 5:17 pm

#12 the Jaguar

What an idiotic post, and one that I am somewhat surprised was not deleted as it was a direct attack on Chrystia’s personal appearance, and not her ability. What would this Jaguar fool have commented about if Rick Hansen was Finance Minister?

I don’t care for her being the Finance Minister either, but I base my judgement on her skill set or lack thereof for the position.
********************************************

Now, Now, appearance
is important, yes your judged by your looks and presentation who are you kidding……

#90 Camille on 11.30.20 at 5:22 pm

Very interesting post. If I am correct in whittling this down for myself, it comes down to demographics (and their wants and needs). In 1968 movie “Wild In The Streets”, it gets resolved quickly as the film only lasts 97 minutes. But really there was no resolution, and some say the 1976 film “Logan’s Run” is the sequel (with Jessica and Holly!). The sequel to this film is said to be “SpaceDisco One” Seriously, “the finest crew ever assembled, our guides, our protectors, and our friends”. Here we go Garth, you and I are invited to join them.

#91 IHCTD9 on 11.30.20 at 5:23 pm

#33 The Woosh on 11.30.20 at 3:51 pm
What a bigoted post today. She can’t manage the finance department because she doesn’t have the background for the role. As though there are no career civil servants to implement the vision she comes up with. Garth…I truly thought you were better than this. Shame!

CF came up with some “vision”? That’s a good one LOL! Listen, C has her job because Trudeau trusts that she will not stand in the way of **HIS** vision. Bill was perfectly fine as a FM – until he disagreed with Trudeau.

If you don’t believe it, call up Jody R, she’ll help you understand.

Oh, by the way, asserting that a FM is unqualified for his/her position is not bigotry.

#92 Macduff on 11.30.20 at 5:29 pm

My son looked up and then asked me for a raise on his allowance. I think he sees what’s coming.

#93 Tarot Card on 11.30.20 at 5:30 pm

I should have known the government would keep it under $400 billion to appease. However, 100 billion over next three years. OMG!!

the update shows the federal debt-to-GDP ratio could reach 58.5 per cent.
Remember when Canada was called a banana republic By way of comparison, the debt-to-GDP ratio reached 66.8 per cent in the mid-1990s.

Oh well 50 cent dollar here we come.

Thanks for the blog Garth, where do we send the donations for mental health for the guest blogger after they read the comments.

#94 IHCTD9 on 11.30.20 at 5:31 pm

#70 crowdedelevatorfartz on 11.30.20 at 4:53 pm
Chrystia’s final comment before the question period.

“We have sown the seeds for a new Spring….”

Reminded me of Peter Sellers as the simpleton Chauncy Gardner in “Being There”
——-

Maybe she was referring to an “Arab spring”

That would make perfect sense.

#95 30,000 plus on 11.30.20 at 5:33 pm

The girl is hardly inadequate and she made herself all by herself… At 3 foot nothing she took on & beat COVID’s most useful idiot (TRUMP) during the trade agreement between us them and Mexico… During her earlier days she took on Putin,,, (who also used that useful idiot (TRUMP),,, and spit him out too… Canada’s is lucky to have her and Trudeau knows it… Look out for that Middle Class is their position and I like it… I look south of the border and I too consider us lucky to have her… She don’t shy away from hard questions and answers them quite clear and well and at 3 foot nothing that says something like a lot… SORRY,,, she made herself… And thank you #60 for that “Bel Paese” reminder…

#96 MF on 11.30.20 at 5:33 pm

8 Flop… on 11.30.20 at 5:17 pm

Making it into a Flop post is always a compliment!

MF

#97 Dolce Vita on 11.30.20 at 5:39 pm

Agree with others here about the Chrysta bashing – not good.

She is accomplished and as pointed out by others here probably more in touch with everyday Canadians than SILVER SPOONS Trudeau and Morneau.

Trudeau and Morneau. It was all just given to them. Laurentien Canada writ large. They had a fraternity spat and one resigned.

Chrysta stood up to Trump showing her displeasure at NAFTA and was rebuffed. Good on her I say. Will not be pushed around by a bully. Pugnacious. I like that. And Chrysta well dressed, string of pearls, is presentable, if not formidable…I like that too.

And like it or lump it, Trudeau and Chrysta have a VISION for Canada more than I can say for HM’s Loyal Opposition whose vision so far has been yelling about what they don’t like.

I’d like to know what they do like? You know, an alternative vision for Canada.

And if the GOOD PEOPLE of Canada do not like the Trudeau and Chrysta vision well, in a few years you can vote them out.

#98 Debt versus deficit on 11.30.20 at 5:39 pm

After reading the comments it is obvious people do not understand the deference between annual deficit and cumulated debt.

Government spending runs April 1 2020 through to March 31, 2021. Any shortfall is called a deficit or 381B Which is then added to the country’s debt. Note this federal and does not include all the provinces.

Have fun look at the debt clock spin….

#99 Ancient Ron on 11.30.20 at 5:39 pm

@ Dolce Vita

Thank you for standing up for Canada. We are so lucky to live here. Several folks on this blog don’t appreciate that . One clown, several comments above, called our county a Gulag. Seriously ?

Ask any new Canadian what they think of the opportunities here. They feel truly blessed to get a chance to build a life in Canada.

#100 Squire on 11.30.20 at 5:40 pm

This time i think it really is different. Makes one wish we still had Harper. What wild ride we are in for in many ways. I don’t think alot of people realize how much this will affect us all. What’s next sock boy, selling our assets to the CCP for badly needed funds ?

#101 IHCTD9 on 11.30.20 at 5:43 pm

#74 Diversified in Oakville (Now Mississauga) on 11.30.20 at 4:58 pm
#12 the Jaguar

What an idiotic post, and one that I am somewhat surprised was not deleted as it was a direct attack on Chrystia’s personal appearance, and not her ability. What would this Jaguar fool have commented about if Rick Hansen was Finance Minister?

I don’t care for her being the Finance Minister either, but I base my judgement on her skill set or lack thereof for the position.
———

Now now D.i.O, the Jag is allowed to dislike short Women with big cabooses. That’s his biz, not yours.

Lucky for you though, I love short ladies with big cabooses. I like that red thing CF wore for a while too. Now then, I have thus restored balance to the Universe.

I can totally appreciate her appearance while being convinced she is a head bobbing abomination of a politician.

Feel better?

#102 crowdedelevatorfartz on 11.30.20 at 5:44 pm

@#71 MF
“the joke that was 2008 when the big bad government had to save everyone…including you.”
++++

Errr I posted at number 22 not 2

I figured that a person such as yourself with eleven fingers and eleven toes could figure that out……….

As for the 2008 bailout.

It was Harper with his big boy pants who crapped $56 Billion of taxpayer dollars to save….taxpayers…..

Not Lord Fauntleroy with his bloomers burning through $400 billion taxpayers dollars to drown taxpayers in unfathomable debt.

Learn to count

#103 Leslie on 11.30.20 at 5:50 pm

“spendiest”
I love that word…wish my husband would let me be the “spendiest”,instead of him!

#104 Bob in Hamilton on 11.30.20 at 5:51 pm

https://nationalpost.com/news/politics/governments-fiscal-update-plans-for-more-spending-to-help-economy-rebound

Should I start prepping for my blog appearance?

#105 Paul B on 11.30.20 at 5:51 pm

That massive debt will weigh us down for a long time, especially once interest rates start to tick upward. It’s tragic that we are going to handicap our future for short-sighted political gain. Society will be re-made, but we will all be poorer.

#106 BC Renovator on 11.30.20 at 5:54 pm

Steve Saretsky provides a great clip here of how incompetent and unfitting Christia is for Finance Minster. Fast forward to 4.25min

https://m.youtube.com/watch?v=u4wgdz4mDmg

#107 Leftover on 11.30.20 at 6:00 pm

So a tweak to stock options (which needed to happen) and a Netflix toll. That’s all? I think not.

But since they’re making this up on the fly, we’ll have to wait until spring to see how things are with vaccines and the bond market before coming to grips with taxes.

The Liberals want to be able to stay the course because they know there’s no way wealth taxes or higher capital gains rates will bale them out – only a big jump in the GST and raiding the principal residence piggy bank will do that if things look bad.

Pray for a soft landing. Make some cosmetic changes to the tax code to appease the masses. Compare the colossal increase in federal debt/GDP to previous “investments” like the new deal, even though it didn’t happen here. Describe a buffet of new programs with very little financial detail.

Then call an election. That’s the only planning they need to do.

#108 raisemyrent on 11.30.20 at 6:08 pm

sorry, I don’t really read the comments. There IS nothing wrong with socialised childcare. I’ve experienced first-hand the difference between a socialised/city daycare and a private/for-profit one.
Our government abandons future generations by neglecting any sort of formal care or involvement until they’re 5. That is absolutely preposterous in terms of best practices and if having the best interests of the child in mind. No wonder children aren’t expected to have read until about grade 1-3 (!). Having school start at 5 is just mental. It was a budgetary move from years ago that needs to be abandoned. There is ample science backing up early learning from the age of 3. Even daycare (read: child minding and diaper changing) is a band-aid. We need extended kindergarten from ages 3 and up. We sometimes wonder here how people can be so financially illiterate… well, they were soiling themselves and literally illiterate until age 5+, so…

None of the above has anything to do with politics, deficits, etc.. btw.

#109 Debtslavecreator on 11.30.20 at 6:09 pm

The nation has been systematically looted for years and now its on overdrive – it’s brazen and pathetic
I am sick of these criminals bankrupting the country and deliberately destroying the currency to back their delusional and radical plans.
So now, soon, people with kids will get almost free daycare while my family and i lived super frugally and paid daycare in Mississauga for 6 f- n years -two of which were DOUBLE daycare
Many others did and are doing it
And now the crooks are going to run massive deficits and borrow in my name and my children to help pay for others

This is bull shit

So wrong

I am done with this stupid country

#110 Mr Canada on 11.30.20 at 6:12 pm

Whatever happened to Minister Morneau? We knew he had no real intention of running for the Secretary General of the OECD, (decision will be made in March 2021) he needed good political cover why he left T2 and his “riding” in Toronto who’s supporters certainly had no idea he told everyone last election he had no plans to run again…nice service, eh ?

#111 vanreal on 11.30.20 at 6:14 pm

Hi Garth, My huge concern is that right now Jagmeet Singh is calling the shots and threatening to pull support unless the liberals give him exactly what he wants. We are truly @#$%

#112 jal on 11.30.20 at 6:14 pm

I don’t understand why everyone is worried about paying back all the gov. loans.
There is no reason to make the lender any more rich than what they are.
Canada will not be the first and only gov. to default.

I think that I won. Default results in a zero deficit.

#113 Lefty on 11.30.20 at 6:19 pm

In summary, VXC not VCN.

#114 Bring back Bill on 11.30.20 at 6:20 pm

“””Her BA is in Russian lit and history. Her MA is in Slavonic studies”””

Just the type of person we need to run our Canada’s finances.

God help us because no one else will

#115 Flop... on 11.30.20 at 6:20 pm

These budget deficit numbers are beginning to spin around like an odometer reading on a 30 year old work truck.

Maybe Carly Simon was right after all.

I know nothing stays the same
But if you’re willing to play the game
It’s coming around again…

M46BC

https://m.youtube.com/watch?v=c0A7jAVDPJU

#116 dosouth on 11.30.20 at 6:24 pm

Just had to put in some real estate entitlement. A young, 25 & 24 feel it is their right to own and so have bought in Lake Cowichan and will commute to Victoria.

The kicker is how they expect to make a killing and their design instinct is right out of HGTV and any social media Mill post about design…..(and your gonna love the picture with their dog, true royalty…)

I know my way around a toolkit…says Nathan

#117 Buford Wilson on 11.30.20 at 6:24 pm

Bill stepped in it once too often.

Justin had no choice but to dismiss him.

#118 Drake Caffers on 11.30.20 at 6:28 pm

Paul B you are so right about us all being poorer. This is what Liberals and NDP, Green Party, left, socialists do. I don’t understand with all these so called university educated Canadians think that money debasement, money devaluation, money printing is not going to destroy Canada and other countries, cause higher inflation, more poorer, inequality.

Jal, it is all about confidence in financial institutions, money, money system, and government etc. If people keep seeing they are getting more and more shafted to go to work, save, invest their money and others just keep getting government subsidies, welfare, benefits etc. doing very to little work. This is why deficits, the debt, debt defaults, taxes, inflation, currency devaluation, interest rates, interest rate policy matters. People really need to get informed and know about economics, history.

#119 the Jaguar on 11.30.20 at 6:29 pm

Re ; #74 Diversified in Oakville (Now Mississauga) on 11.30.20 at 4:58 pm

Check your ‘Diversity’ Privilege ‘Peel Region”!. How would comments on the size of one’s caboose ( which has benefited Jennifer Lopez enormously), a person’s fashion sense or lack thereof , or hand gestures translate to an “attack” on iconic Canadian heroes like Rick Hansen? Consider the numerous comments about ‘Mr. Socks”, his hair, etc “. Get a grip. Never mind, your ability to do so remains in serious doubt.

With no regret will I be dragged down into the rabbbit hole of your hopelessly progressive ideas that seek to lift yourself up by dragging others down.

For the record: The ‘caboose’ of the Jaguar is exquisite. Not too big, not too small. Thank dog, not flat. It might be called ‘perky with a certain ‘saucy little minxness’.

Fishman will go nuts with this revelation.

#120 cuke and tomato picker on 11.30.20 at 6:39 pm

If you google The Just Society by Peirre Trudeau his hope was to achieve this for CANADA.

#121 Sydneysider on 11.30.20 at 6:51 pm

That graph is even more interesting in light of the fact that Trudeau père was PM during the first big dip, 1968-84.

#122 Shawn on 11.30.20 at 6:51 pm

The Canadian dollar keeps going up though

#123 Millennial Realist on 11.30.20 at 6:55 pm

Yes.

Change is coming.

If you prefer to stand in the way of the train, and get run over by it, we respect your freedom of choice, Boomers.

It won’t be us paying for this. The train is all yours. – Garth

#124 IHCTD9 on 11.30.20 at 6:59 pm

#116 dosouth on 11.30.20 at 6:24 pm
Just had to put in some real estate entitlement. A young, 25 & 24 feel it is their right to own and so have bought in Lake Cowichan and will commute to Victoria.

The kicker is how they expect to make a killing and their design instinct is right out of HGTV and any social media Mill post about design…..(and your gonna love the picture with their dog, true royalty…)

I know my way around a toolkit…says Nathan
———-

From the pics in that article, it looks like they did a pretty good job with the place, despite their youth. Their commute is about an hour or so, sucks, but not as bad as a million dollar mortgage. A diesel smart car would do that round trip for about 8 bucks per day. Only 287k? I’d have to say this couple did great all things considered.

Nice house, nice yard, fresh renovation, tolerable commute, 1100.00 mortgage payment. That’s a win in my books.

#125 Cto on 11.30.20 at 7:01 pm

Over the last 12 years, if there is one thing I have leaned and learned the hard way. There should be a new rule in personal investing, and that is economic fundamentals mean very little when you invest on the wrong side of government intests and politics. Governments today are prepared to spend limitless amounts of money tthey don’t have to forward those interests much more than ever in the past. This distorts fundamentals massively in ways that no one can imagine. The ones that benefit are the ones on the right (lefty) side of the equation and your decision doesn’t have to make any sense what so ever.

#126 Cheese on 11.30.20 at 7:03 pm

I don’t want to live on this planet anymore.

#127 Drinking on 11.30.20 at 7:06 pm

#106 BC Renovator

Never heard of this guy before but very interesting link; thanks and “ouch”!

#128 Ootofthehoos on 11.30.20 at 7:06 pm

The major cohort of Boomers does not have a coherent political philosophy having voted themselves many benefits, prepared their independence from family, embraced their gov’t service elderly exit model, and thus they cannot speak to Millenials against leftward drift like can the minority cohort right wing Christian boomers.

#129 Garth's Son Drake on 11.30.20 at 7:17 pm

DELETED

#130 Doug t on 11.30.20 at 7:18 pm

#123 millennial realist

LMAO OMG WTF – dude your the ones that are going to ride that train ALL DAY ALL NIGJT for the rest of your lives hahahahaa

#131 Ponzius Pilatus on 11.30.20 at 7:19 pm

#31 binky barnes on 11.30.20 at 3:49 pm
Erin O’Toole is a fine man. I am hopeful that Canadians give him a chance.

BB
———–
What happened binky?
Don’t you like Trudeau no more?
You always said that he was steering the country well.
I

#132 crowdedelevatorfartz on 11.30.20 at 7:20 pm

@#123 Milleniall Delusionist
“It won’t be us paying for this. The train is all yours. Garth”

++++

Nah, Delusionist wont figure it out until the parents boot his 30 something butt from the basement because they cant afford the rising taxes….

Enjoy the next 30-40 years Delusionist…..taxes going uppa uppa uppa.

#133 danny partridge on 11.30.20 at 7:20 pm

Man, would I hate to be a millennial in this country. The financial burden this workforce will be forced to carry during their working lives is going to be unlike anything ever seen before. Anywhere.

For once I am thankful to be aging.

#134 WhistleBlower on 11.30.20 at 7:24 pm

We just blew the doors off PHSA. That stands for the Provincial Health Services Authority 1of6 in BC, but the main one that coordinates province wide.

This is one corrupt organization.

CBC News has agreed to protect the informants’ identities because they fear professional repercussions.

The whistleblowers accuse B.C.’s central health authority of squandering $7 million on the purchase of unusable face masks from China; hundreds of thousands of dollars on unnecessary renovations to its executive offices; and tens of thousands of dollars on high-end catered meals for executives and their staff.

Of $11.5 million paid to the supplier, almost $7 million worth of masks brought in from China were deemed “problematic” and unusable in the health sector.

The PHSA admits it eventually wrote off $6.7 million of the cost at the end of March but said nothing of potential additional losses carried into this fiscal year.

Whistleblowers allege that the changes were made to give Morin a better view of downtown Vancouver and the North Shore mountains.

“At the height of a pandemic, spending $400,000 on a re-reno versus putting that money toward … MRI or CT scanners or ventilators, it’s just inexcusable,” one whistleblower said.

AND IF UNSAFE MASKS GIVEN TO HERO FRONT LINE WORKERS IS NOT ENOUGH TO MAKE YOU THROW UP, HERE IS THE KICKER THAT WILL:

Staff say they observed breakfast and lunch being brought in for a total of 18 executives and their assistants virtually every workday until about May. This was reduced to just lunches that continued into June, even after local restaurants reopened.

Breakfasts reportedly included avocado toast with lemon ricotta berry crêpes. Lunches featured steak and salmon nicoise salads and sparkling water.

Sources estimate the total cost to taxpayers was between $30,000 and $40,000. At the same time, many front-line health-care workers were putting in 12-hour days, often without adequate meal breaks.

“What bothered me the most was seeing the people paid the least suffering the most,” one source said. “And the people paid the most got the most.”

And you talk about having a deficit Garth? No accountability bro. Feeding frenzy for all. Get it while you can.

#135 IHCTD9 on 11.30.20 at 7:31 pm

#123 Millennial Realist on 11.30.20 at 6:55 pm
Yes.

Change is coming.

If you prefer to stand in the way of the train, and get run over by it, we respect your freedom of choice, Boomers.
———-

I’m not a boomer, but I’m just loving get’n run over by that train! A quarter million for a bro of mine and I between tax returns a free handout cash since 2015.

These days when I see a train heading south from Ottawa, I sprint for all I’m worth to jump on those tracks homie!

I know it goes without saying, but I can’t thank you enough for not getting in my way. Respecting freedom of choice is a cornerstone of our society, and my choice is to back up the truck for a heaping load of free Trudeau bucks.

Thanks again bro :).

#136 Tron Light on 11.30.20 at 7:31 pm

Great! They will spend $3 billion to plant 2 billion trees! That is so forward thinking. How could I not have voted Liberal before???

#137 the Jaguar on 11.30.20 at 7:34 pm

Is this the winner?

#337 Mark B on 11.24.20 at 1:54 pm
$381B

#138 Tom on 11.30.20 at 7:38 pm

Trudeau made Freeland? Huh?! I was aware of her and she’s represented Canada very well in other capacities such as international trade. Comment seems bigoted/sexist. She’s got a lot more experience than a lot of people and of course the POTUS.

#139 Something is Off on 11.30.20 at 7:41 pm

Alberta posts 8 deaths and records 5k+ new cases

BC posts 40+ deaths and about 2k new cases over weekend.

Pretty sure AB is testing more. These numbers don’t add up. BC’s situation is much worse.

#140 TurnerNation on 11.30.20 at 7:42 pm

The old saying/concept of colour revolutions (ours is RED : We have Red Zones, remember the Red Book they once held up?) is: Control the food, Control the people.

As you Mao down on you dinner tonight ponder, in your Prefecture where do you see the longest lineups outside in the cold? Why, outside your Food Stores.
Local and sometimes armed Block Captains watch the line closely for CV Law infractions.
Note even with ‘Distancing’ (A prison punishment concept) nor with ‘Masks’ (which ER and walk in clinic doctors even never wore, from what I saw?) are you allowed normally into the Food store. Too dangerous…to our elite rulers.

This winter they will break many of us. Today someone told me that they are ‘not handling the second lockdown well’.
All in one it’s an economic and mind and sprit weapon, and a one-child policy. CV does all that. Crown virus.
People refuse to see it, that every system has been taken over and turned against us. Since that week in March when the world fell.

2% inflation eh?

“The Financial Post reports in its Saturday edition that Canada’s federal, provincial and territorial agriculture ministers agreed Friday to launch an investigation to find ways to mend tattered relationships between food producers and supermarkets. An unbylined item in the Post reports that the ministers agreed to set up a working group to look at the controversial fees that some of the largest grocery chains have started charging suppliers during the pandemic. Federal Agriculture Minister Marie-Claude Bibeau said: “We all recognize that these fees, recently imposed by some retailers, are really worrying. We want to study the problem.” He said the working group will “circumscribe the issue, consult experts and industry, and identify actions that can be taken, both at the federal and provincial level.” The group is supposed to deliver a report with recommendations by July, 2021. The decision to start looking into the issue comes amid renewed calls for government intervention to reign in what food producers say are bully tactics from the most powerful players in the grocery business. Manufacturing industry groups and independent grocers have called for the government to implement a code of conduct.
© 2020 Canjex Publishing Ltd. All rights reserved.

#141 kommykim on 11.30.20 at 7:44 pm

RE: #12 the Jaguar on 11.30.20 at 2:50 pm
I’ll just come out and say it. I can’t stand her.

========================================

Oh come on and admit it. You are more than just a little turned on.

#142 Met with Bill on 11.30.20 at 7:45 pm

When I met Bilderberg Bill at Davos he showed me the art of the finance deal.

Man, he wasn’t kidding. That experience was “enriching”

#143 Nonplused on 11.30.20 at 7:45 pm

I apologize for having in the past made fun of Monreau’s name, even in jest.

“Freeland” isn’t as easy to joke, maybe “Freemoneyland”?

That chart is absolutely horrific. If it were a chart of someone’s personal finances you would have to assume they were in a bad car accident in the US without health insurance.

Trudeau is kind of “OM” too, but lacking the experience to know how things work. There is no “11th marble”.

“This crisis, he argued, was an opportunity to remake society, expand the role of government, promoting social and climate justice.”

That always has to be enforced at the end of a barrel of a gun. “Justice” is a concept that applies well in criminal law. In non-criminal matters, it means whatever you want it to mean.

I have a bad feeling about this.

#144 Ponzius Pilatus on 11.30.20 at 7:47 pm

#123 Millennial Realist on 11.30.20 at 6:55 pm
Yes.

Change is coming.

If you prefer to stand in the way of the train, and get run over by it, we respect your freedom of choice, Boomers.

It won’t be us paying for this. The train is all yours. – Garth

———————
The Jag is not seeing the approaching train because he’s looking at the caboose.
Is ancient Chinese proverb.

#145 Kevin BC on 11.30.20 at 7:48 pm

@Dolce Vita – You’re welcome. In Garth we trust.

#86 Dolce Vita on 11.30.20 at 5:14 pm
#72 Kevin BC

Unwitting accomplice to Garth’s EVIL plot of not having to lift a finger knowing full well someone with a BRAIN and wherewithal will come along and let the rest of us lazy slugs know who actually will be our next guest contestant on the turkey chopping block [a.k.a., Guest Blog Author or more simply raw red meat for My Liege’s “adoring” masses].

Thank you Kevin.

#146 Nonplused on 11.30.20 at 7:49 pm

PS I got as close to the number as anybody with “the budget will balance itself”, although I was not the only person who submitted that answer.

I propose a new contest: How many comments does the guest blogger get?

And what are the rules? Gloves on or gloves off?

#147 crowdedelevatorfartz on 11.30.20 at 7:51 pm

@#106 BC Reno

That link to Steve Saretsky and the Parliamentary question period at 4:30 between Chrystia and Pierre Poliverre is gold.

Anyone that think Freeland has their best interests at heart is dreaming.
Chrystia (talks from both sides of face) Freeland is evasive, lecturing, pompous, arrogant and ultimately owned by the questions ….she cannot or will not answer……..

She needs to hang out with Trudeau at the cottage and practice to get her “umm’ “errr”, “ahhh” pauses down pat.

#148 Howard on 11.30.20 at 7:51 pm

From Bloomberg a few hours ago : Feds considering tax on foreign home owernship. That is, foreign nationals purchasing in Canada, not Canadians purchasing abroad.

The Liberals floated this idea in the 2019 campaign but this is the first time it’s resurfaced since then.

Here’s hoping. I might sing Chrystia’s praises if she implements this.

#149 Nonplused on 11.30.20 at 8:00 pm

#12 the Jaguar on 11.30.20 at 2:50 pm

“Pray don’t show me the palms of your hands again, Ms. Freeland.”

I am also shy of “hand-talkers”. It seems to me they know the words aren’t working. Or if you watch some people “hand-talk” when they are in a heated argument you can tell this is one step away from an assault and it might be best to just call 911 now.

“Hand-talking” is not dissimilar to a dog bearing its’ teeth.

#150 Ustabe on 11.30.20 at 8:04 pm

Folks need to pay attention. The Jaguar is of the female persuasion and as such is fully capable of commenting on butt size, shape, form.

Its not just Chrystia or even just Trudeau you need worry about, its the ADMs, the high level bureaucrats, the persons scurrying about in the halls who have access who inform the Ministers opinions. So, in other words an almost insurmountable task. Except at election time.

So vote next time. And know this, as long as the Conservative Party of Canada carries the stench of Scheer with it and is led by the Human Thumb they will not be forming any Federal government in the near future.

So, solutions? Move to the US. They need replacements, lots of them in the coming weeks. Probably lots of cheap houses to vultch as folks bankrupt themselves trying to cover medical bills for their husband, brother, child.

Go live among them, work with them, become a US citizen, join the GOP and vote for Trump in 2024. I’m sure you will be real happy and fulfilled.

Its OK, leave me here, I’ll be fine. Go…just go…

#151 COW MAN on 11.30.20 at 8:04 pm

Sir Garth:

So I wonder what kind of financial update the BBQ guy with the lid on back ward would have given Canada, if he were Minister of Finance ?

#152 AACI Home-Dog on 11.30.20 at 8:06 pm

Hmmm…wondering if the vaccine & distribution cost will expand this figure by a bundle too…

#153 Mattl on 11.30.20 at 8:07 pm

#123 Millennial Realist on 11.30.20 at 6:55 pm
Yes.

Change is coming.

If you prefer to stand in the way of the train, and get run over by it, we respect your freedom of choice, Boomers.

——————————————————–

That was quite the train today. An increase in what YOU pay on your Netflix bill each month. Pretty progressive stuff.

This is second or third announcement that was supposed to deliver big change. UBI, taxes on personal residences, national daycare, Pharma changes. Nothing yet, and nothing coming – boomers are still running the show Junior.

#154 Howard on 11.30.20 at 8:11 pm

Shared equity scheme for Toronto, Vancouver, and Victoria rises to maximum purchase price of $722,000 from the current maximum $505,000.

Maximum household income to qualify raised to $150K from $120K.

Canada is a farce.

#155 Doghouse Dweller on 11.30.20 at 8:12 pm

Millennials fear not ! While your working long hours paying off the 450 billion dollar tab.
The nanny state Lib -Dipper wokester coalition is going to be raising your children Coast to coast to coast for only $10 a day.
What could possibly go wrong ?

#156 COW MAN on 11.30.20 at 8:15 pm

# 28 GRG

I fully agree, except that the CAD started the up .66 on the day. By the time Finance Minister Chrystia was finished it was down .17 against the USD.

I do remember when Finance Ministers in Canada were concerned about the value of our currency as it’s value was a front runner of inflation. And when the true rate of inflation is known, interest rates increase. In the real world that is not the world of Modern Monetary Theory.

#157 short horses on 11.30.20 at 8:19 pm

This is from the CBC’s summary of Minister Freeland’s update:

“Freeland also announced a plan to start levying digital sales taxes on consumers nationwide for the first time — a new system that could raise as much as $1 billion over the next five years.”

It’s interesting that her plan is to tax consumer spending a trivial amount. I mean, every little bit counts, but her own projections are for a cumulative $600B shortfall over the next five years. This revenue stream will barely cover the funds the government plans to inject into the CRA to chase tax avoiders.

If consumers consume less (this is how carbon taxes work, probably works the same with jeans and boats), then this already minuscule revenue stream dwindles further. She should heed the words of her predecessor and wait for the G20 & OECD to give us something we can work with.

And the proposed AirBnB tax needs some work. I say charge ‘em for the lice, extra for the mice, and 2% for looking in the mirror twice…

#158 Tyberius on 11.30.20 at 8:20 pm

I think these 2 will be rebranded by history as:

Tru-land and Free-deau (as in free ‘dough’)

Anyone into writing political satire?

T

#159 Steerage on 11.30.20 at 8:29 pm

#123 Millennial Realist on 11.30.20 at 6:55 pm

Yes.

Change is coming.

If you prefer to stand in the way of the train, and get run over by it, we respect your freedom of choice, Boomers..

….
It’s that caboose you need to worry about dudette…. millennials will pay for this idiocy that will impair your future with endless taxation

#160 Nonplused on 11.30.20 at 8:31 pm

I’ve decided it is “Free$land” until I get a DELETED.

#161 Howard on 11.30.20 at 8:31 pm

#149 Ustabe on 11.30.20 at 8:04 pm

$400 billion and the Liberals are STILL the same 5 points ahead of the Conservatives that they were in February.

$400 billion showered on the layabout masses and no demonstrable gain in public voting intention.

Erin O’Toole is a far better retail politician than Andrew Scheer. But by all means continue to underestimate.

#162 Drinking on 11.30.20 at 8:36 pm

#138 Something is Off

Yes, and I posted this link last week.
https://art-bd.shinyapps.io/covid19canada/

Everything one needs to know on what is happening with Covid testing, cases, ect in Canada.

That buffoon in B.C. did not have to call that election but knew enough that it was an appropriate time to get him 4 more years. He knew what was coming. My condolences to all that have lost loved ones and strength to those who are battling it.

#163 White Knight on 11.30.20 at 8:40 pm

#15 LP on 11.30.20 at 3:04 pm
#12 the Jaguar on 11.30.20 at 2:50 pm

Oh do tell how the shape of her body and the dresses she wears have anything to do with how she performs or doesn’t perform her job.

I used to think you had some intelligent things to add here; may have to rethink that

#18 Calgary Geezer on 11.30.20 at 3:13 pm
#12 Jaguar, get out of my head…you read my mind!

______________________________________________________

Seriously… Not a good way to judge someone or their abilities. While I completely understand that you might not like her appearance and some of her behaviour, your comments reek of sexism and are superficial to say the least.

Ask yourself to do better… and be better.

#164 crowdedelevatorfartz on 11.30.20 at 8:41 pm

@#137 Tom
“I was aware of her and she’s represented Canada very well in other capacities such as international trade. ”

++++

Spare me.
Those trade deals are negotiated by legions of bureaucrats on both sides of the table hammering out the nitty gritty details for years.
Freeland is the politically correct, gender appropriate, figurehead with the speech shoved in front of her.

Qualifications be damned.

She doesnt have one iota of a financial degree of any sort and yet she is appointed the “first female Finance Minister”
Hurray!
The “Feminist” budget today was part of the Great Reset towards bankruptcy.
It had nothing to do with fiscal prudence.
Finance doesnt even come into it.

Trudeau and his lickspittles have discovered the truth.
Lazy voters dont care about budgets.
They just want immediate gratification and someone else can pay.

Nauseating in it’s political pandering at its most basic…..to all those “woke warriors” that think you should automatically get the job because the population is 50% female and its time……
Who cares if they are unqualified and out of their depth…….?
I can just hear Trudeau now,
“Because its 2021!”

Its only a budget………..enjoy the tax increases kiddies.

FYI
Budgets dont balance themselves and knowing that……

Bill Morneau and Mark Carney are getting as far away from the financial freight train derailment as they can……

#165 Stone on 11.30.20 at 8:42 pm

#147 Howard on 11.30.20 at 7:51 pm
From Bloomberg a few hours ago : Feds considering tax on foreign home owernship. That is, foreign nationals purchasing in Canada, not Canadians purchasing abroad.

The Liberals floated this idea in the 2019 campaign but this is the first time it’s resurfaced since then.

Here’s hoping. I might sing Chrystia’s praises if she implements this.

———

And when they see that it worked, they’ll go after all the other homeowners.

The same way income tax evolved. First, on the wealthy. Then, on everyone else.

Rinse and repeat.

#166 KaleyCat on 11.30.20 at 8:59 pm

Good interview with a respected interviewer and interviewee.

https://episodes.buzzsprout.com/s9c36r0pxy1uhxrl1dau15ocjzyx?response-content-disposition=attachment;%20filename=%27jeff-rubin-the-political-panel-with-jenni-and-scott.mp3%27;%20filename*=UTF-8%27%27jeff-rubin-the-political-panel-with-jenni-and-scott.mp3&response-content-type=audio/mpeg&

Skip over to about 21 + minutes in, where they discuss Ms Freelands performance re: the new free trade agreement. The argument is that, in reality, she represented the best interests of Canadian companies – at the expense of Canadian workers. Also ironic, was that both the far right and the far left better represent the middle class than the “middle of the road” party.

Good food for thought.

#167 GanduModi on 11.30.20 at 9:03 pm

Holee..Moleee

Things look depressing
As a new immigrant, I was wondering if Canada offers a one year money back on its permanent visa :-)

I have a mind to return to Mumbai

How on earth are we going to get out of t2-sinkhole

#168 the Jaguar on 11.30.20 at 9:05 pm

@#149 Ustabe on 11.30.20 at 8:04 pm
Folks need to pay attention. The Jaguar is of the female persuasion and as such is fully capable of commenting on butt size, shape, form…………

Major Strasser : We have a complete dossier on you: Richard Blaine, American, age 37. Cannot return to his country. The reason is a little vague. We also know what you did in Paris, Mr. Blaine, and also we know why you left Paris.

[hands the dossier to Rick]

Major Strasser : Don’t worry, we are not going to broadcast it.

Rick : [reading] Are my eyes really brown?

#169 Dog Breath on 11.30.20 at 9:06 pm

#25 the Jaguar
“…And a caboose is a caboose. Some like big cabooses.”

———————————————————————-

They say: “The bigger the cushion the better the pushing!!”

#170 Wrk.dover on 11.30.20 at 9:09 pm

Looks like they followed yesterdays post theme: mortgaging the house for investment into the future funding.

But Canada was already mortgaged.

Does that mean my paid for house is Canada’s collateral?

Yesterdays post may have had a theme I did not grasp until tonight. Get ill-liquid, or be made so?

Yeah, I know investments are usually liquid properly propped by govt. ink per yesterdays post.

So today the govt brought the ink. Rejoice investors?

#171 TurnerNation on 11.30.20 at 9:09 pm

I always wagged with this: UN-Free Land.
UN = United Nations.
Pass the Vassal-ene. We gonna need it.

#172 crowdedelevatorfartz on 11.30.20 at 9:26 pm

Cullen Commission on BC Money Laundering

Secret recordings were made by the former Commander of the Money laundering Task Force with Kash Heed the Soliciter General of BC.
When discussing the RCMP and Minister Rich Coleman ….Kash Heed admitted that the police and Coleman were both uninterested and interfered.

Heed also admitted in another taped conversation that Coleman influenced the Attorney General in Money Laundering investigations …..

https://vancouversun.com/news/ian-mulgrew-heed-to-confront-accuser-and-secret-recordings

#173 Barb on 11.30.20 at 9:28 pm

AND another $100 billion in the next 3 years.

#174 ImGonnaBeSick on 11.30.20 at 9:37 pm

Ugh.. I still have almost 30 years before retirement… Looks like I’m one of the “lucky” few that’ll be paying for this trainwreck…

#175 crowdedelevatorfartz on 11.30.20 at 9:45 pm

@#166 GanduModi
“How on earth are we going to get out of t2-sinkhole”

+++++
Tell, your family, friends, coworkers……
Vote Conservative.

#176 binky barnes on 11.30.20 at 9:54 pm

Erin O’Toole is a fine man. I am hopeful that Canadians give him a chance.

BB
———–
What happened binky?
Don’t you like Trudeau no more?
You always said that he was steering the country well.
I

——————————

Hello PP. I appreciate that at least one person was paying attention to that sarcastic drivel I had been posting. I guess my sarcasm was too subtle though.

BB

#177 majik on 11.30.20 at 9:56 pm

Well it’s $381bn denominated in worthless Canadian Pesos, so relative to the “real world” it’s actually not that bad!

#178 Millennial Realist on 11.30.20 at 10:02 pm

Get out of our way.

#179 cuke and tomato picker on 11.30.20 at 10:04 pm

Number 133 – Whistleblower – What about the woodspiltter boys at the BC Leg.

#180 Steven Nicolle on 11.30.20 at 10:09 pm

Well I hate to say it to the 99% of the readers on this blog but for me it was refreshing not to hear Morneau for the hundredth time do the talking today. Women make the best leaders worldwide and why because they are maternal in their ideas. Unlike men, ego does not affect them. O’Toole I thought was over the top. Grasping for straws with this vaccine delivery. Then we had to hear his autobiography during question period. Really? I thought there was an election coming while he was talking. Anyway people got to chill. In 2 years we are back to the Roaring Twenties again and the debt will dwindle. Trust me. History will repeat itself. You will see.

#181 Gary C on 11.30.20 at 10:12 pm

In my last post I said that Trudeau would print money until he runs out of trees. Now he is spending 3 billion dollars to plant 2 billion trees?
Looks like cash money will be devalued ,all governments are in a race to the bottom, and Canada wants to get there first.

#182 morrey on 11.30.20 at 10:23 pm

#246 TANSTAAFL is > Chrystia Freeland.

Get ready!

#183 The Stoned Ranger on 11.30.20 at 10:24 pm

#132 danny partridge on 11.30.20 at 7:20 pm

Man, would I hate to be a millennial in this country. The financial burden this workforce will be forced to carry during their working lives is going to be unlike anything ever seen before. Anywhere.

For once I am thankful to be aging.

________________________________________________

Danny… Looks like Keith was the smart one.
Party hardy then cashed in his chips before he had to pay the piper.

#184 SWL on 11.30.20 at 10:28 pm

#60 Dolce Vita

As much as I like to bash Canada for its late to the table COVID-19 performance and Trudeau being a ditz at times, par extraordinaire, do not forget this about where you live:

1. A land with the most highly educated populace on PLANET EARTH.

——————–

Boots on the ground here is showing me that education doesn’t necessarily make you smart. I think we are leaning more towards indoctrination system than education

Well since we can’t travel to Cuba, why not bring Cuba here. Sorry about the weather

The numbers released today were the propaganda numbers

#185 Chance on 11.30.20 at 10:32 pm

In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again.

As long as the roots are not severed, all is well. And all will be well in the garden.

#186 HUNGRY BEAR on 11.30.20 at 10:34 pm

WINDSOR IN CRISIS MODE!!

Apparently the stupid and selfish still walk amongst us.

https://windsorstar.com/news/local-news/jarvis-its-about-health-period

#187 Paul on 11.30.20 at 10:45 pm

Chrystia Freeland just bought a house that her parents co-signed for.

#188 the Jaguar on 11.30.20 at 11:15 pm

uh oh. I think somebody just called it. The calm before the storm….. Brace, brace, for impact……………….

#189 Spectacle on 11.30.20 at 11:22 pm

94 IHCTD9 on 11.30.20 at 5:31 pm
#70 crowdedelevatorfartz on 11.30.20 at 4:53 pm
Chrystia’s final comment before the question period.

“We have sown the seeds for a new Spring….”

Reminded me of Peter Sellers as the simpleton Chauncy Gardner in “Being There”
——-

Maybe she was referring to an “Arab spring”

That would make….
÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷

And wrong kind of green, spring, shoots etc.
These “civil society” groups include the Arabic Network for Human Rights Information openly funded by George Soros’ Open Society..

Blog dogs, search it yourself and be elightened in a bad evil way. Ugh.

#190 Spectacle on 11.30.20 at 11:27 pm

94 IHCTD9 on 11.30.20 at 5:31 pm
#70 crowdedelevatorfartz on 11.30.20 at 4:53 pm
Chrystia’s final comment before the question period.

“We have sown the seeds for a new Spring….”

Reminded me of Peter Sellers as the simpleton Chauncy Gardner in “Being There”
——-

Maybe she was referring to an “Arab spring”

That would make….
÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷

And wrong kind of green, spring, shoots etc.
These “civil society” groups include the Arabic Network for Human Rights Information openly funded by George Soros’ Open Society..

Greetings crowded & IHCtd9 , Blog dogs, search it yourself and be elightened in a bad evil way. Ugh.

#191 David & Karen on 11.30.20 at 11:59 pm

I got within 9 billion of the booby prize estimate. My guesstimate was 400 billion and 100 billion in special spending. Freeland puked up 381 billion and a 100 billion in fairy dust. I don’t know if anyone else said 500 billion, but if you did, congrats.

#192 Robert Ash on 12.01.20 at 12:33 am

I get a kick out of some younger voters think the Boomers, will suffer the consequences, of the new Reset. The sad fact is Boomers, have more resources simply because in the past Large intrusive Government, was not Status Quo…. we wanted to keep most of our salaries. Most wanted less Government intervention. We were quite vocal about that preference.

#193 DON on 12.01.20 at 12:40 am

Equifax latest…consumer debt increasing even among those already deferring payments…sorry no link.

#194 macroman on 12.01.20 at 12:45 am

Covid cases going through the roof in BC and Alberta, with or without mask laws.

Are masks the 21 century small pox blanket?

#195 fishman on 12.01.20 at 12:49 am

I had no idea the Jaguar was female. Thought it was kind of weird talking talking about your own bum. Even then I didn’t clue in. Its quite disconcerting to think that all these past years I figured her for a man. Kind of shakes my self confidence. Took it for granted that this was the old boys club I guess, Pride goeth before the fall.

#196 Underhoused on 12.01.20 at 1:23 am

Reportedly, our new Finance Minister bought her house with help from the Bank of Mom and Dad:

https://ipolitics.ca/2013/10/15/chrystia-freeland-defends-1-3-million-home-purchase/

What could go wrong?

#197 Dr V for voluptuous on 12.01.20 at 1:32 am

Oh my dog. It’s become a booty blog……

#198 Al on 12.01.20 at 1:44 am

“One man wanted prudence. The other, glory… In short, there’s nothing to prove. Being in public office is not about personal gain, advancement or brand-building. It’s service”.

I’m quite certain they both wanted glory, since it then conflicted, JT is the boss so Bill got the boot. Service? Lol. It’s a tale as old as time. What does man seek when it is born into or achieves immense wealth . Usually power and/or status of course. Listing their inherited wealth, connections and occupations and concluding they have nothing to prove is NM thinking, as thats how NM “proves it”. They are at least somewhat aware that they probably would not have the items on that list had they chosen different parents.These men have everything to prove to themselves and fellow OM.

Source: I know a guy.

#199 IHCTD9 on 12.01.20 at 1:49 am

#168 Dog Breath on 11.30.20 at 9:06 pm
#25 the Jaguar
“…And a caboose is a caboose. Some like big cabooses.”

———————————————————————-

They say: “The bigger the cushion the better the pushing!!”
— —xx

Ah yes, and also “The looser the waistband, the deeper the quicksand”

“How can I leave this behind?”

#200 calgaryPhantom on 12.01.20 at 1:52 am

Ummm that was a little out of usual Garth.
One could argue that it’s gender discrimination.

There are probably hundreds and thousands of men and women with BA and Masters in lit and history. Not every one is in a position of Chrystia. Fact that she has made it here, is quite an achievement.
You can be picked by someone higher up, but you have to have something to be noticeable.

#201 calgaryPhantom on 12.01.20 at 2:49 am

#166 GanduModi

I like your username because I understand it.
I will not tell Garth the meaning of it so you don’t get blocked ;) hahah

#202 Karen on 12.01.20 at 3:21 am

First vaccine shipments arrive in Chicago.

https://www.cnbc.com/2020/11/30/first-mass-air-shipment-of-pfizers-covid-vaccine-arrives-as-airlines-prepare-for-more.html

Trudeau tells Canadians to wait until his reset has bitten into the bone and more businesses are killed off.

Everyone in Liberal Town wants to know, ‘ where will Justin and Gerry be vactioning this season’s? Gushhhh !!

When do you want my column? I nailed the 500 billion ( 400 billion and another 100 billion spend).

#203 BillyBob on 12.01.20 at 4:41 am

#35 wallflower on 11.30.20 at 4:04 pm
I will say it again.
Canada #1 place to live in the world, on many lists.
Welcome, immigrants.
Please, take our debt. Work it!
400,000 every year til there are more immigrants who had zero receipt of COVID CASH than local yokels – they shall inherit!

==================================

Always with the lists. I swear they are the last resort of the majority who’ve never travelled more then 10k from their hometown but have internet so can view self-congratulatory “studies” and keep telling themselves how great everything is. A ruling government’s dream, this.

So if we’re playing silly-bugger with lists, here’s one. Don’t see Canada even in the top 10. Or top 20, actually. But hey…”we’re” higher than the US, so yay us!

https://dashboards.sdgindex.org/rankings

#18 Calgary Geezer on 11.30.20 at 3:13 pm
#12 Jaguar, get out of my head…you read my mind!

AGREED! I find her equally distasteful, even though I have no doubt that Freedland is extremely intelligent, even less that she is ambitious. But her ideology should give any moderate thinker, nightmares.

And the preaching about commenting on personal attributes is hypocritical given how every politician trades on them: Exhibit A being Trudeau himself.

We’re getting there, but it still isn’t a thought crime to have an opinion on them.

#204 Jay (not that one) on 12.01.20 at 5:50 am

Budgets balance themselves!

(Ow ow ow)

I just refinanced and reamortized my mortgage, 10 years at 2.8% for 10 years amortized over 15 years, and got a kick out of it when [email protected] didn’t know I could refinance after 5 years for 3 months interest. Thanks for the great advice over the years.

#205 East Coast Life Style on 12.01.20 at 5:54 am

How will the provinces pay for all of this?

Feminism!

https://youtu.be/kpdHuo7YwBU

Rare for Barton to ask anything but softball questions to Liberals, maybe she feels threatened by a powerful woman?

#206 Stan Brooks on 12.01.20 at 6:03 am

The very accomplished financial minister refuses to answer formal questions about the monetary vs. fiscal policy and how much of the deficit is subsidized through BoC purchases, being evasive about it,

(let me be clear, let’s be serious, this is conspiracy theory… etc. bull crap)

while:

1. Representing the government as a finance minister.
2. Owning BoC through the government.

There is no smoke without fire folks.

These people are destroying the value of money, our deficit is the highest when compared to GDP to any other country in the whole wild word.
And they keep lying about the debt, counting only federal debt while total government debt is north of 127 %:

https://en.wikipedia.org/wiki/Canadian_public_debt

Statistics Canada says debt is expected to rise significantly in 2020 due to massive new borrowing to cover expected historic deficits from measures implemented in response to the COVID-19 pandemic.[2] As of the second quarter of 2020, the ratio of gross debt to GDP for the federal plus other levels of government had climbed to 127.1%

lies, lies, lies…

Complete lack of integrity. Destroying lives of savers and retirees whose income is taxed while in reality shrinking and indexed at ridiculous idiotic rates.

And the Boc governor speaks about negative nominal rates. Delusional.

Cheers,

#207 LP on 12.01.20 at 7:40 am

#194 fishman on 12.01.20 at 12:49 am

In the current slang, “Jaguar” refers to an older woman who prefers younger men. Think huntress.

I figured the poster as female too, but after today’s post that describes a woman’s size of her posterior and her hand gestures rather than the quality (or lack of) her thinking has almost made me change my mind.

Funny enough, immediately after Freeland’s speech in the House, Poilievre was the next to speak. The poor man seems unable to express an intelligible word without waving his hands about, throwing them away from his body to make a point. There’s no question that both parliamentarians could use some help in the body language department.

#208 the Jaguar on 12.01.20 at 7:47 am

#194 fishman on 12.01.20 at 12:49 am
I had no idea the Jaguar was female. Thought it was kind of weird talking talking about your own bum. Even then I didn’t clue in. Its quite disconcerting to think that all these past years I figured her for a man. Kind of shakes my self confidence. Took it for granted that this was the old boys club I guess, Pride goeth before the fall.

You see, Garth? I’m now kicked out of the ‘club’. Left to fly around on impulse power. It changes everything.
Dorothy would understand………

#209 IHCTD9 on 12.01.20 at 7:57 am

#179 Steven Nicolle on 11.30.20 at 10:09 pm
Well I hate to say it to the 99% of the readers on this blog but for me it was refreshing not to hear Morneau for the hundredth time do the talking today. Women make the best leaders worldwide and why because they are maternal in their ideas. Unlike men, ego does not affect them. O’Toole I thought was over the top. Grasping for straws with this vaccine delivery. Then we had to hear his autobiography during question period. Really? I thought there was an election coming while he was talking. Anyway people got to chill. In 2 years we are back to the Roaring Twenties again and the debt will dwindle. Trust me. History will repeat itself. You will see.
___

That was a hilarious post Mr. Steve.

Right up there with “the budget will balance itself”.

#210 maxx on 12.01.20 at 8:00 am

@ #14 BlogDog123

4. A huge uptick in numbers wandering around in winter jackets and pyjamas on their way to or from the convenience store for snacks and cigs. This visual assault has increased since March and UBI will, as you so rightly say, increase and crystallize Canada’s already well-developed tendency to laziness.

This will go a bundle towards our currency and perceived value on a global economic scale. Our peers will pull ahead dramatically and also, permanently.

Libs don’t have the first clue, but they do have just enough time left to completely destroy our nation’s economy.

“Canada, home of permanently impaired productivity.”

Now, I can’t wait to see the full flush of the vaccine debacle unfold. This is where we get to witness other G-series countries making great strides while Canada circles the bowl.

#211 maxx on 12.01.20 at 8:11 am

@ #15

You missed the point by leagues. These details, no matter how inconsequential to performance, unfortunately become very noticeable when any subject behaves in a condescending and obnoxious manner.

Most. People. Don’t. Like. It.

At. All.

Especially a self-satisfied smirk displayed after a retort to a question.

#212 crowdedelevatorfartz on 12.01.20 at 8:13 am

@#199 Phantom
“You can be picked by someone higher up, but you have to have something to be noticeable.”

+++

I believe “Kissing Butts” is all thats required.

#213 Sue on 12.01.20 at 8:24 am

So all liberals cant do basic math. Thats all I get from this, including the liberal voters. Math is hard but c’mon. Ignorance is bliss. Who would admit to voting for these ‘peoplekind’ (definition here https://www.urbandictionary.com/define.php?term=Peoplekind )
Soon you wont be able to find a liberal voter who will admit they voted for them. Just like the ndp in Alberta, where have they all gone? Pretty rare to find anyone who will admit to voting them in. Lol
But one can hope. I’m a glass half full kinda gal

#214 Phylis on 12.01.20 at 8:26 am

Did the ‘winner’ provide a real email address?

Loan loss provision are scaling back, how long does it typically take to go from missed payments to bank default notices? Debtslavecreator, do you work on that end too?

#215 crowdedelevatorfartz on 12.01.20 at 8:29 am

@#196 Dr V
“Oh my dog. It’s become a booty blog……”

+++

Well, at least the Kardashians know the value of a dollar.
Seems they’re worth hundreds of millions $$$$ without doing much.

Kim… $900 million, the rest of the brats…$ 100 million

Its better than spending hundreds of Billion$$$$ you dont have.

Perhaps the Kardashian clan are more qualified to be Finance Minister?

#216 crowdedelevatorfartz on 12.01.20 at 8:35 am

@#177 Millenniall Surrealist
“Get out of our way”

++++

Not to worry Millie.
None of us would dare stand on the tracks of a train headed full throttle toward the bridge thats out.
And no amount of taxes can repair it in time.
But FreeCash and TrueDough will try.

#217 Howard on 12.01.20 at 8:52 am

#191 Robert Ash on 12.01.20 at 12:33 am
I get a kick out of some younger voters think the Boomers, will suffer the consequences, of the new Reset. The sad fact is Boomers, have more resources simply because in the past Large intrusive Government, was not Status Quo…. we wanted to keep most of our salaries. Most wanted less Government intervention. We were quite vocal about that preference.

———————————-

Pardon me while I laugh out loud at the notion that Boomers want LESS government intervention to prop up their unearned real estate / birth lottery wealth.

Good one, Robert. What’s up for your second comedy act?

#218 Dharma Bum on 12.01.20 at 8:59 am

#191 Robert Ash

Boomers, have more resources simply because in the past Large intrusive Government, was not Status Quo…. we wanted to keep most of our salaries.
——————————————————————–

Exactly right.

If you had any financial discipline throughout your working life as a salaried employee between 1975 and 2015, you could save and invest a tidy sum – to say the least.

Yes, over time, as the governments got worse and the amount of money they stole from workers crept higher and higher – gnawing away at your net income like rats on a carcass – it became increasingly challenging to make ends meet while staying on course with your investment goals.

But it was doable.

Today? Not so much.

Tomorrow? Almost impossible for the average schmoe.

You see, all of the had wringing by those misguided naive souls out there that think it’s the “boomers” that will be “run over” by change are too deaf to hear the blare of the horn from the freight train that is bearing down on them.

Very little of the money to pay for this irresponsible government overspending will come from the retired or the “rich”.

90% of it will be sucked right out of the paycheques of the working class. Income taxes will increase beyond what you can ever imagine. EI deductions? Hang onto your hat. CPP contributions? Through the roof. I predict there will be a new UBI premium that will come out of every working stiff’s paycheque.

Working stiffs – wage slaves – are the only cash cow that the government can tap into to service the debt pit that they’ve created. The working class will pay, and pay, and pay.

You think it’s tough to get ahead now? Just wait.

The good days are long gone. Yes. Change is coming.

Prepare.

Unless you’re a boomer.

#219 millmech on 12.01.20 at 9:02 am

#193 Macroman
In BC if you are a frontline health care worker and you work in a care home or hospital and have been exposed to Covid you do not have to self isolate, you are allowed to answer no to exposure inquiries because you are wearing PPE.
My neighbor works in a care home as a nurse, that has Covid running rampant through it. She has told me that if health care providers were to self isolate there would be no one to run the system and if anyone asks her she says she has has not been exposed to Covid.
So you see there are many different rules and levels that are ongoing in BC which is enabling the virus to spread.

#220 Sky on 12.01.20 at 9:08 am

It was the govt health bureaucracy edicts which led to the needless destruction of our economy. A lot of you guys were cheering them on. You still are.

Now, I see a lot of the *very same * posters crying about Freeland. Boo Freeland.

What on God’s green earth makes you guys think that
the health bureaucrats are ANY different than she is?

It’s like turning on your kitchen taps after a landslide into the reservoir turns your water black. So you run to the bathroom taps expecting the water there will be clean.

Unbelievable !

#221 Stan Brooks on 12.01.20 at 9:19 am

Statistics Canada says economy grew at a record pace in third quarter of 2020

https://ca.finance.yahoo.com/news/stati,/istics-canada-today-countrys-economy-183306140.html

All is rosy folks!

We have record growth in the middle of the biggest economic contraction in a century/of our lifetime.

Record house prices, economy rebounding, etc.

And it is all organic growth, nothing to do with the insane liberal money printing.

As the official statistics said it, everyone should feel now richer and wealthier.

Cheers,

#222 Stan Brooks on 12.01.20 at 9:22 am

How about increasing real rates with all this organic, orgasmic growth? Increase it with the ‘real’ GDP ‘growth’ of 40 %, how about that central bankers?

Cheers,

#223 KLNR on 12.01.20 at 9:31 am

@#174 crowdedelevatorfartz on 11.30.20 at 9:45 pm
@#166 GanduModi
“How on earth are we going to get out of t2-sinkhole”

+++++
Tell, your family, friends, coworkers……
Vote Conservative.

lol, like that’ll help.

#224 Karen on 12.01.20 at 9:48 am

DELETED

#225 Tommy on 12.01.20 at 9:51 am

I am a millennial and regardless of how huge the deficit is I won’t be working more or paying more taxes. I am 40 and already through half of my working life, first of all. Many here seems to think millennials are just starting out in life. I’ve been working for 25 years and I reached peak burn out a few years ago. I know many other millennial who are also burning out. The world we live jn today is quite brutal and it’s taking its toll on middle aged millennials, many of whom have seen the dream of homeownership pass them by. I know this blog features young and wealthy millennials but I just want to draw your attention to the middle aged, grumpy and poor millennials. Canada will not get blood from a stone and as I see it they’ve already sucked my generation dry. You won’t be getting any more out of me in terms of tax revenue. In fact, my student loan will never be paid off either. And if housing prices keep going up, taxpayers will have to pay to shelter me and those like me. And I won’t be paying tax because I hardly earn any income. It’s just the way it is. Fines are meaningless to me too! Just add them to my unpayable student loan debt. There’s actually a certain freedom that comes with poverty and crushing debt — at a certain point it just doesn’t matter anymore.

#226 crowdedelevatorfartz on 12.01.20 at 9:53 am

@#222 CNR
“lol, like that’ll help.”

++++
As opposed to re-electing the spend and tax Liberals.
LOL LOL LOL.

U sed a funny

#227 Albertaguy (still stuck) in AB on 12.01.20 at 10:05 am

On to other news, south of the border THEY have a plan and the CDC votes today on who will get vaccine first.. skip to 5:50

https://www.npr.org/2020/11/29/939866670/pandemic-behavior-first-in-line-to-get-the-vaccine-learning-loss-report

#228 Tommy on 12.01.20 at 10:06 am

@Whistleblower #133: I am not at all surprised at the mis-spending at PHSA in BC. I strong believe that’s just the tip of the iceberg of extreme rot in BC’s public sector. Yet, the media and the BC government are falling over themselves over alleged systemic racism in health care. It’s total BS. I wish I could say more…

#229 Tommy on 12.01.20 at 10:11 am

@Robert Ash #191:

You said: “I get a kick out of some younger voters think the Boomers, will suffer the consequences, of the new Reset.”

The way I see it is that babyboomers by and large have been sheltered from the massive dislocation and disruptions our economy has gone through over the past 20 years, while younger workers have had to bear that burden head on. So the younger generations have already paid a heavy price for our dysfunctional economic system, which is why so many of us have so little. Now, it’s an opportunity for babyboomers to feel some of the pain the younger generations have been feeling.

#230 joblo on 12.01.20 at 10:19 am

So? whatta ya gonna do?

#231 IHCTD9 on 12.01.20 at 10:45 am

#214 crowdedelevatorfartz on 12.01.20 at 8:29 am

Perhaps the Kardashian clan are more qualified to be Finance Minister?
__

That’s a bootyful idea.

#232 crowdedelevatorfartz on 12.01.20 at 10:46 am

@#228 Tommyboy
“The way I see it is that babyboomers by and large have been sheltered from the massive dislocation and disruptions our economy has gone through over the past 20 years…”

++++

Please.
If you are referring to “offshoring” of jobs and the advent of the internet….. yeah we experienced that while you were still in school….
You stated you are 40.
YOU do not remember the 1980’s recession when Pierre Trudeau was PM.

But…… if you wait.
I’m sure you will get to experience Part Deux of that charming economic dalliance and have Justin Trudeau take a walk in the snow…….. hopefully arm in arm with Chrystia.

#233 dosouth on 12.01.20 at 10:59 am

#124 IHCTD9 on 11.30.20 at 6:59 pm….

Nice house, nice yard, fresh renovation, tolerable commute, 1100.00 mortgage payment. That’s a win in my books.
—————————————————

I suppose if you realize it is assessed at $227k (BC assessment) and at 3 hour min commute – 5 days a week with probably 2 vehicles as they go to different work locations the fuel bill will probably average 6-8k per year or $600 per month then wear and tear on the vehicles, heavy snows in the Cowichan highway, roads closed including the Malahat and Sooke, for accidents, road work, weather of course. Oh and not to mention all this stress on a young relationship. Yeah a real thought through decision.

Justifying the extra 60k paid plus another 60k for renos, pretty or not…..Then again what do I know.

#234 NoName on 12.01.20 at 11:14 am

While some are pondering about deficit, i was and steel am pondering about who will be guest post writer.

There was a dude who actually guess correctly, but “we” know nothing about about him, i dont recoll hm posting before, buy i may be wrong on that one memory an not good as before.

Stanly Brooks and Crossbroderschopper did come somewhat close along few other, but we could just let those two type, Stanly about inflation and cost of living and Crosbordershopper about his upbringing and growing around hanahans…

CRSBRDRSHPR Did you know they are tearing a thing down to build a condos??? Way back when i was young and wating for apocalipse2000 in 1999 I dated a grill that worked there, i think i mention her here once, she was from columbia, she caled me tonto, but it dident matter loved her i think.

Kind of funny life was much more fun when when fed run surplaces…

#235 Damifino on 12.01.20 at 11:29 am

#199 calgaryPhantom

You can be picked by someone higher up, but you have to have something to be noticeable.
——————————

That thing is obedience. Something Morneau lacked.

#236 Dogman01 on 12.01.20 at 11:36 am

#217 Dharma Bum on 12.01.20 at 8:59 am

Working stiffs – wage slaves – are the only cash cow that the government can tap into to service the debt pit that they’ve created. The working class will pay, and pay, and pay.
You think it’s tough to get ahead now? Just wait.
The good days are long gone. Yes. Change is coming.

————————————————-

Wage Slaves – You forgot
• Competing against more labour supply, via Globalization & Immigration
• Less global demand for “workers” – via Technology
• Wages up against Inflation

The Middle Class and anyone not from a rich family is doomed to join the 7 Billion proles in the “grey goo” of humanity, servicing the needs of the new Aristocracy.

As you pointed out the age of Upward Mobility has ended. Abandon all hope those whom enter here (the young and not in the top 5% percentile of Smarts)

#237 Phil on 12.01.20 at 11:38 am

#228 Tommy
———–
“Every generation
Blames the one before
And all of their frustrations
Come beating on your door”

Mike and the mechanics (boomer Band)
And so it goes!

#238 P. Jackson on 12.01.20 at 11:42 am

So did anyone catch Ms. Freeland’s comment on how “Women, young people, new Canadians, Black and racialized Canadians have been disproportionately hurt by the COVID-19 recession.”?

Seems like a really roundabout way to say something about a non-female, non-young, non-new Canadian, non black and non racialized (this one triggers my spell check) people.

Can someone help me decrypt what she meant?

#239 crowdedelevatorfartz on 12.01.20 at 12:25 pm

@#237 P. Jackson
“Can someone help me decrypt what she meant?”

++++

I’m sorry.

We cant explain exactly what she meant without triggering the politically correct ,the easily offended and the fragile in the New Age Great Experiment……

The PC police hover over all… ready to pounce.

Suffice it to say that all will financially suffer under the new agenda….. some more than others….

I wonder how long it will take the dot com billionaires at Apple, Google, Netflix , etc to hire legions of tax lawyers and accountant to stall the CRA….?
All for a paltry $3.5 billion in taxes….?
That wont even pay the interest on $380 billion …
Liberal smoke and mirrors.

#240 KLNR on 12.01.20 at 12:27 pm

@#225 crowdedelevatorfartz on 12.01.20 at 9:53 am
@#222 CNR
“lol, like that’ll help.”

++++
As opposed to re-electing the spend and tax Liberals.
LOL LOL LOL.

U sed a funny

oh man, yer hopeless.

#241 Chris Serran on 12.01.20 at 12:32 pm

You know what would be interesting – a real comparison of Canada’s financial state (debt/deficit, actual tax rates, etc) vs that of other countries (US, GB, Europe, etc.). Personally, I would like to see a little more fiscal restraint as well, but I think the whole world is doing the same thing right now – running up deficits/debt and paying to try and get out of the pandemic ok. Who actually does it best will be for historians to decide. Anyone who thinks otherwise is telling you a story.

#242 Stan Brooks on 12.01.20 at 12:34 pm

#235 Dogman01 on 12.01.20 at 11:36 am

Spot on.

Signed with my real email.

Cheers,

#243 IHCTD9 on 12.01.20 at 12:40 pm

#232 dosouth on 12.01.20 at 10:59 am
#124 IHCTD9 on 11.30.20 at 6:59 pm….

Nice house, nice yard, fresh renovation, tolerable commute, 1100.00 mortgage payment. That’s a win in my books.
—————————————————

I suppose if you realize it is assessed at $227k (BC assessment) and at 3 hour min commute – 5 days a week with probably 2 vehicles as they go to different work locations the fuel bill will probably average 6-8k per year or $600 per month then wear and tear on the vehicles, heavy snows in the Cowichan highway, roads closed including the Malahat and Sooke, for accidents, road work, weather of course. Oh and not to mention all this stress on a young relationship. Yeah a real thought through decision.

Justifying the extra 60k paid plus another 60k for renos, pretty or not…..Then again what do I know.
__________

None of that stuff is anything close to a deal breaker. The win here is a nice affordable house, and two decent incomes within an hours’ drive. I’ll bet they have enough to spare to invest as well – should they be inclined. I don’t see where this couple is stressed at all – was it all those vacations they were taking in Italy?

They are in no rush to get home, no kids – no problem. I can’t see how it would take over an hour to drive 90km on a typical highway. Low BC assessment says nothing about the actual value of the house.

What would you have them do – move to Vic and pay triple? Some day, maybe in 10 years – long after all the work is forgotten – they’ll sell that house and recoup every dime they ever put into it and then some. That’s the nature of the beast when you do your own work.

They’ll be a hundred miles ahead of their peers who never got past renting in more expensive areas.

#244 IHCTD9 on 12.01.20 at 12:48 pm

#237 P. Jackson on 12.01.20 at 11:42 am

Can someone help me decrypt what she meant?
____

“Please vote for me when I am running for PM”

#245 Michael in-north-york on 12.01.20 at 12:59 pm

#112 jal on 11.30.20 at 6:14 pm

There is no reason to make the lender any more rich than what they are.
Canada will not be the first and only gov. to default.

I think that I won. Default results in a zero deficit.


I hope that’s sarcasm.

If not .. please don’t forget that once you default, noone will buy your new government bond issues. Your printing press will pump money straight into the consumer economy, causing a huge inflation spike.

And that will hit hard the poorest folks, in the name of whose needs the deficit was created in the first place.

#246 P.Ooched on 12.01.20 at 1:23 pm

Looks like Garth missed “the memo” from his buddies over at finance, so let me get you up to speed …

the memo – Part I

Former finance minister “Chateau Bill” was gallivanting around the globe with his family in tow …

Now for the record, as Garth stated – Bill has plenty of his own dough, Bill comes from BIG money, Bill earns BIG money and Bill is married to even BIGGER money, however …

Bill’s bills for the global gallivanting were being footed by the kids who volunteered to raise money for the keelburger brothers burgeoning Toronto RE empire which was masquerading under the guise of the “WE charity” (another whale of a tale for another day)

So when it came into public light that this global gallivanting was happening on the kids dime, it certainly didn’t reflect well on Bill, his public profile or the profiles of his political cohorts.

Those reflections seemed to jog Bill’s memory into recollecting that perhaps he should paying for his families vacations and his chequebook appeared simultaneously with his appearance in front of the WE scandal committee and their nasty little probing questions.

Sound principled to you? Lets not jump to conclusions OK. Remember, it was only 41 thousand 3 hundred and something – you have to put that 41K+ into perspective – for the 35M+ Canadians who earn less than 100K year, that’s equivalent to finding a toonie ($2) in your winter coat pocket when you haul it out of storage for the season – nice, but not likely to change your life.

Totally understandable, no?

Part 2 – Why I think that Bill just suffers from a lack of “memory muscle”.


Morneau’s lapse, which I referenced, was a black spot. But it pales in comparison to the Trudeau family’s indiscretions. Morneau is gone. Trudeau’s not. – Garth

#247 Dogman01 on 12.01.20 at 1:28 pm

#238 crowdedelevatorfartz on 12.01.20 at 12:25 pm

The New Left; they are the only (allowed) ideology that divides, categorizes, and treats human beings differently based upon race, ethnicity, religion, and gender.

“Racism does not have a good track record. It’s been tried out for a long time and you’d think by now we’d want to put an end to it instead of putting it under new management.

― Thomas Sowell

#248 Dogman01 on 12.01.20 at 1:31 pm

#241 Stan Brooks on 12.01.20 at 12:34 pm

“The promise of upward mobility and everybody getting a fair shake has turned out to be a fog of anaesthetizing gas administered by the ruling elites of this supposedly classless society.” – Neil Macdonald

It is about class, status quo and stagnation now. Hence Biden.

The top 5% of smart ambitious young will be used to keep things safe and running for the masters but the rest will be in the “grey goo”.

#249 SoggyShorts on 12.01.20 at 1:51 pm

#242 IHCTD9 on 12.01.20 at 12:40 pm
#232 dosouth on 12.01.20 at 10:59 am
#124 IHCTD9 on 11.30.20 at 6:59 pm….

None of that stuff is anything close to a deal-breaker. The win here is a nice affordable house, and two decent incomes within an hours’ drive.

********************
An hour’s drive to get to work? Barf.
Assuming work is 8h a day, that’s 2h of overtime meaning I would want at least a 37.5% bump in income on top of the added vehicle expenses.

2 hours a day commuting is nothing to sniff at. If you sleep&work for 8h that only leaves 8h to live.
=
2 hours behind the wheel is 25% of your life for..30 years? More?
Gross.
———————–
In 2018 we moved 25 KM to cut our commutes from 20m to 5m and it was totally worth it.

#250 Michael in-north-york on 12.01.20 at 1:56 pm

#29 SunShowers on 11.30.20 at 3:41 pm

“Capitalism works*”

*Conditions and restrictions apply. Offer not valid in the developing world** . The definition of “works” as described in this offer is subjective in nature, and no guarantees are made or implied with regards to objective and quantifiable outcomes, which may range from nonexistent, to imperceptible, to enormous.


Capitalism is the only system that partly mitigates the inequalities it creates. Capitalism allows the political democracy to exists, which allows those not in power to have some political representation. And then they can demand a piece of the pie.

Every other known social system gives those on top of the hill both the wealth and the nearly absolute political power. Ordinary people have no legal way to champion their needs.

And speaking of the developing world: more than a few countries did so well in the past few decades that they promoted themselves into the developed realm. Say “South Korea”.

#251 Former Navy Chief on 12.01.20 at 2:21 pm

#10 Prince Polo

In my younger days I was often the proverbial “Drunk Sailor”, but one thing I always made sure when going for a run ashore was to never carry a credit card. Cash only.

This limited the amount of money I could spend, but more importantly it greatly reduced the chances of having a very uncomfortable conversation with the “ol’ lady” explaining my credit card statement upon my return home.

#252 belly rubs on 12.01.20 at 2:32 pm

West of 121° W
Should I care? Ottawa seems like Narnia. The fictional land of Ditherwood. A mole on a backside. A sawdust flapjack. A moose in pants. A guffaw.

Where’s Ottawa? Way back there was an itch to move Parliament to Winnipeg, so’s it’d be more central and representative. I was like noooooooo. Leave it right where it is. Outta sight, outta mind. To Ottawa I do not exist, except for a number in a folder somewhere, and that’s the way I like it. I don’t accept any cheques and I don’t qualify as a tax base. Freedom. Canada is a big place with lots of room to bug out and never look back.

#253 IHCTD9 on 12.01.20 at 2:50 pm

#248 SoggyShorts on 12.01.20 at 1:51 pm

In 2018 we moved 25 KM to cut our commutes from 20m to 5m and it was totally worth it.
___

Did your mortgage then go from 287K to 900K also?

They didn’t buy 90km from Vic because they like driving – they did it because they like not drowning in debt and getting repeatedly shot down at mortgage approval meetings.

Who knows? It might be an easy drive, and picturesque. If your commute involved navigating the express and collector lanes in the GTA – well then hell yeah anyone would pay a King’s ransom to lop 80% off the length of it.

I don’t like a long commute either but if I had the same proposition these kids had – I can see it would not be long before the whole arrangement would be so stacked in my favour (compared to a 900K mortgage), I’d be driving that 90km with a smile on my face.

#254 Barb on 12.01.20 at 3:11 pm

“Morneau is gone. Trudeau’s not. – Garth”

———————————————
Got all excited when I saw the word “gone” followed by “Trudeau”.

Dammit.
Gotta stop speed reading!

#255 Drinking on 12.01.20 at 4:28 pm

Always thought that Jag and Felix are either a couple or the same commendator!

#256 MCGA on 12.01.20 at 8:06 pm

We need to invite Trump and Netanyahu to run Canada, not necessary in this order. Either of them is able to make Canada Great Again.
And Christa Freeland? She will be forgotten.

#257 jess on 12.02.20 at 10:52 am

incompetence / incomplete data

“This is so wrong,” Wigforss said, “because I saw that a number of people were being evicted every month in Chicago, for instance, and I thought one of those families would have needed this stimulus check. Why should a Swedish citizen living abroad receive $1,200?”
The Treasury Inspector General for Tax Administration did find that, as of late May, $34 million in stimulus money had gone to people who filed a tax return with a foreign address.

Van Shockley falls in that category. He’s 74 and was born in Pennsylvania, but he moved to Australia after becoming disillusioned with U.S. politics in the 1960s.

“I had always been depressed when JFK was killed,” he explained. “I just couldn’t get over that, so I started looking for someplace else [to] start all over.”

https://www.npr.org/2020/11/30/938902523/irs-says-its-own-error-sent-1-200-stimulus-checks-to-non-americans-overseas

Shockley gave up his U.S. citizenship and has now been an Australian citizen for about a half-century. His last trip to the U.S. was 40 years ago. But he, too, received stimulus money, even though he is not eligible for it and does not file a U.S. tax return.

“That was the weirdest thing ever,” he recalled. “I Why am I getting a check from the government?’ ”

Shockley suspects he mistakenly got a check because he receives Social Security from having worked in the U.S. before moving overseas.

https://www.npr.org/2020/11/30/938902523/irs-says-its-own-error-sent-1-200-stimulus-checks-to-non-americans-overseas